Moors & Cabot Inc. Sells 7,398 Shares of Viper Energy Inc. (NASDAQ:VNOM)

Moors & Cabot Inc. cut its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,792 shares of the oil and gas producer’s stock after selling 7,398 shares during the quarter. Moors & Cabot Inc.’s holdings in Viper Energy were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE lifted its holdings in shares of Viper Energy by 39.1% in the 1st quarter. US Bancorp DE now owns 1,965 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 552 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Viper Energy by 34.6% in the 1st quarter. Federated Hermes Inc. now owns 9,543 shares of the oil and gas producer’s stock worth $431,000 after acquiring an additional 2,452 shares during the last quarter. Ironsides Asset Advisors LLC bought a new stake in shares of Viper Energy in the 1st quarter worth approximately $378,000. Maridea Wealth Management LLC bought a new stake in shares of Viper Energy in the 1st quarter worth approximately $485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viper Energy by 22.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,058 shares of the oil and gas producer’s stock worth $1,673,000 after acquiring an additional 6,707 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Down 2.8%

Shares of Viper Energy stock opened at $36.60 on Friday. The company has a current ratio of 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $39.05 and its two-hundred day simple moving average is $42.26. The company has a market cap of $10.56 billion, a P/E ratio of 9.63, a PEG ratio of 16.43 and a beta of 0.99. Viper Energy Inc. has a 12-month low of $34.71 and a 12-month high of $56.76.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same period in the previous year, the firm earned $0.49 EPS. Research analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy’s payout ratio is presently 31.58%.

Analyst Upgrades and Downgrades

VNOM has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Viper Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 target price (down from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. KeyCorp decreased their target price on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Mizuho lifted their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.23.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.