SIR Capital Management L.P. Cuts Position in Viper Energy Inc. $VNOM

SIR Capital Management L.P. decreased its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 28.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,534,335 shares of the oil and gas producer’s stock after selling 612,100 shares during the quarter. Viper Energy accounts for approximately 6.6% of SIR Capital Management L.P.’s holdings, making the stock its biggest position. SIR Capital Management L.P.’s holdings in Viper Energy were worth $59,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VNOM. Los Angeles Capital Management LLC purchased a new stake in Viper Energy in the fourth quarter worth about $27,000. Ameriflex Group Inc. purchased a new stake in Viper Energy in the third quarter worth about $38,000. Parallel Advisors LLC raised its holdings in Viper Energy by 68.3% in the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 568 shares during the last quarter. Fifth Third Bancorp raised its holdings in Viper Energy by 151.8% in the third quarter. Fifth Third Bancorp now owns 1,536 shares of the oil and gas producer’s stock worth $59,000 after buying an additional 926 shares during the last quarter. Finally, Colonial Trust Advisors purchased a new position in Viper Energy in the third quarter worth about $69,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on VNOM shares. Roth Mkm reaffirmed a “buy” rating and issued a $54.00 target price on shares of Viper Energy in a report on Tuesday, May 5th. Piper Sandler lifted their target price on shares of Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Monday, April 13th. Wall Street Zen raised shares of Viper Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, KeyCorp lifted their target price on shares of Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Viper Energy Stock Up 1.6%

Shares of VNOM stock opened at $44.38 on Friday. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The stock has a market cap of $15.93 billion, a P/E ratio of -138.68 and a beta of 0.38. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $46.71 and a two-hundred day simple moving average of $43.35.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $499.82 million. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 108.6% on a year-over-year basis. On average, research analysts expect that Viper Energy Inc. will post 2.5 earnings per share for the current year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. Viper Energy’s dividend payout ratio is currently -475.00%.

Viper Energy Company Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.