Greenwood Capital Associates LLC Sells 12,062 Shares of Viper Energy Inc. $VNOM

Greenwood Capital Associates LLC lessened its stake in Viper Energy Inc. (NASDAQ:VNOM) by 51.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,528 shares of the oil and gas producer’s stock after selling 12,062 shares during the period. Greenwood Capital Associates LLC’s holdings in Viper Energy were worth $445,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Viper Energy in the third quarter valued at about $31,000. Ameriflex Group Inc. bought a new stake in shares of Viper Energy in the third quarter valued at about $38,000. CoreCap Advisors LLC lifted its stake in shares of Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 906 shares during the period. Parallel Advisors LLC lifted its stake in shares of 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 valued at $54,000 after buying an additional 568 shares during the period. Finally, Bogart Wealth LLC bought a new stake in shares of Viper Energy in the third quarter valued at about $57,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Up 1.6%

Shares of VNOM opened at $47.25 on Friday. The stock has a market cap of $16.89 billion, a price-to-earnings ratio of -205.43, a P/E/G ratio of 1.03 and a beta of 0.50. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $49.08. The company has a 50-day moving average price of $45.50 and a two-hundred day moving average price of $40.71.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.51 million. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The company’s revenue for the quarter was up 87.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. Equities analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 5th. Viper Energy’s dividend payout ratio is presently -660.87%.

Analyst Upgrades and Downgrades

VNOM has been the subject of several research reports. Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley raised their price target on shares of Viper Energy from $44.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Piper Sandler raised their price target on shares of Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Barclays cut their price target on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group upgraded shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Viper Energy has an average rating of “Buy” and a consensus target price of $54.47.

About Viper Energy

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.