Encompass Capital Advisors LLC Sells 883,762 Shares of Viper Energy Inc. $VNOM

Encompass Capital Advisors LLC decreased its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 65.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 464,604 shares of the oil and gas producer’s stock after selling 883,762 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Viper Energy were worth $21,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashford Capital Management Inc. bought a new position in shares of Viper Energy in the first quarter valued at $16,103,000. The Manufacturers Life Insurance Company raised its position in Viper Energy by 2.2% during the first quarter. The Manufacturers Life Insurance Company now owns 116,455 shares of the oil and gas producer’s stock worth $5,472,000 after acquiring an additional 2,532 shares in the last quarter. Quantinno Capital Management LP raised its position in Viper Energy by 7.2% during the first quarter. Quantinno Capital Management LP now owns 160,960 shares of the oil and gas producer’s stock worth $7,564,000 after acquiring an additional 10,861 shares in the last quarter. Castleark Management LLC lifted its stake in Viper Energy by 122.1% in the first quarter. Castleark Management LLC now owns 24,425 shares of the oil and gas producer’s stock valued at $1,148,000 after acquiring an additional 13,430 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Viper Energy in the first quarter valued at $1,783,000. Institutional investors own 87.72% of the company’s stock.

Analyst Ratings Changes

VNOM has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Truist Financial cut their target price on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Mizuho lifted their price target on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded Viper Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.57.

Viper Energy Trading Down 4.6%

VNOM stock opened at $43.04 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. The company has a fifty day moving average price of $44.16 and a two-hundred day moving average price of $44.37. Viper Energy Inc. has a one year low of $35.10 and a one year high of $51.13. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of -134.50 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company’s quarterly revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. Equities analysts anticipate that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. Viper Energy’s payout ratio is presently -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.