Connor Clark & Lunn Investment Management Ltd. Sells 16,663 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 38.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,478 shares of the oil and gas producer’s stock after selling 16,663 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Viper Energy were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VNOM. Farther Finance Advisors LLC increased its holdings in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 450 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Viper Energy during the 2nd quarter worth approximately $36,000. ORG Partners LLC lifted its stake in Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,541 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $54.26 on Wednesday. The company’s fifty day moving average is $50.92 and its 200 day moving average is $44.66. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 52 week low of $29.03 and a 52 week high of $56.76. The stock has a market cap of $10.22 billion, a PE ratio of 23.29 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the previous year, the company posted $1.10 EPS. Viper Energy’s revenue for the quarter was down 28.5% on a year-over-year basis. Research analysts anticipate that Viper Energy, Inc. will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America started coverage on Viper Energy in a report on Tuesday. They issued a “buy” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Piper Sandler increased their target price on shares of Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Raymond James upped their price target on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their price target on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $55.78.

Viper Energy Company 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.