CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $14.18 Million Position in Viper Energy, Inc. (NASDAQ:VNOM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 314,273 shares of the oil and gas producer’s stock after acquiring an additional 10,223 shares during the period. Viper Energy comprises 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 24th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.18% of Viper Energy worth $14,177,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Swiss National Bank lifted its position in shares of Viper Energy by 17.3% in the 1st quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock worth $6,126,000 after purchasing an additional 23,500 shares during the period. Empowered Funds LLC grew its stake in Viper Energy by 458.2% in the first quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,924,000 after acquiring an additional 62,411 shares during the period. Sei Investments Co. increased its holdings in shares of Viper Energy by 81.9% during the first quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after acquiring an additional 20,396 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Viper Energy during the second quarter worth approximately $616,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analysts Set New Price Targets

VNOM has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Roth Mkm lifted their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Truist Financial upped their target price on shares of Viper Energy from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler boosted their price target on shares of Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Viper Energy Price Performance

NASDAQ:VNOM traded up $0.99 during mid-day trading on Tuesday, hitting $52.62. 274,030 shares of the stock traded hands, compared to its average volume of 1,106,238. Viper Energy, Inc. has a 12-month low of $27.61 and a 12-month high of $52.66. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.31 billion, a PE ratio of 17.83 and a beta of 1.73. The business’s 50-day moving average price is $47.46 and its 200 day moving average price is $42.08.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter last year, the company posted $0.47 EPS. The business’s quarterly revenue was up 34.8% on a year-over-year basis. On average, analysts expect that Viper Energy, Inc. will post 1.99 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 41.10%.

Viper Energy Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.