Kornitzer Capital Management Inc. KS Has $6.62 Million Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Kornitzer Capital Management Inc. KS cut its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,000 shares of the oil and gas producer’s stock after selling 15,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.07% of Viper Energy worth $6,624,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after buying an additional 1,682,183 shares during the period. Geode Capital Management LLC lifted its stake in Viper Energy by 16.0% in the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after buying an additional 234,048 shares during the period. Merewether Investment Management LP lifted its stake in Viper Energy by 22.9% in the third quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after buying an additional 160,600 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Viper Energy by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after buying an additional 66,222 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Viper Energy in the third quarter valued at approximately $18,044,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on VNOM. Bank of America initiated coverage on Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price target on the stock. Barclays upped their target price on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group initiated coverage on Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 target price on the stock. Piper Sandler lowered their target price on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy Trading Up 1.9 %

Shares of Viper Energy stock opened at $50.36 on Wednesday. The stock has a fifty day simple moving average of $49.38 and a 200 day simple moving average of $49.31. Viper Energy, Inc. has a 12-month low of $34.45 and a 12-month high of $56.76. The company has a market capitalization of $10.73 billion, a P/E ratio of 21.61 and a beta of 1.71. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $0.65 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is 51.50%.

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.