Millennium Management LLC Sells 894,048 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Millennium Management LLC reduced its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 75.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,631 shares of the oil and gas producer’s stock after selling 894,048 shares during the quarter. Millennium Management LLC owned 0.17% of Viper Energy worth $11,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of VNOM. International Assets Investment Management LLC bought a new position in shares of Viper Energy during the second quarter valued at $36,000. Plato Investment Management Ltd lifted its holdings in shares of Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 1,541 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Viper Energy by 962.3% during 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 in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Viper Energy by 94.4% during the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Sandia Investment Management LP bought a new position in shares of Viper Energy during the first quarter valued at $192,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of VNOM opened at $51.29 on Tuesday. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $45.64 and a two-hundred day simple moving average of $41.06. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 18.86 and a beta of 1.73. Viper Energy, Inc. has a 52 week low of $27.47 and a 52 week high of $51.73.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was up 34.8% on a year-over-year basis. On average, analysts expect that Viper Energy, Inc. will post 1.99 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.34%. Viper Energy’s dividend payout ratio is presently 44.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on VNOM shares. Truist Financial lowered their price target on Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays upped their price objective on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. TD Securities upped their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Evercore ISI upped their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.43.

About Viper Energy

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.