Van ECK Associates Corp Purchases New Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Van ECK Associates Corp purchased a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 77,532 shares of the oil and gas producer's stock, valued at approximately $3,804,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer's stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the period. Geode Capital Management LLC grew its stake in Viper Energy by 16.0% in the 3rd 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 last quarter. Merewether Investment Management LP grew its position in shares of Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer's stock worth $38,822,000 after purchasing an additional 160,600 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Viper Energy by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer's stock worth $28,206,000 after acquiring an additional 66,222 shares during the period. Finally, Yaupon Capital Management LP bought a new position in Viper Energy in the 3rd quarter valued at approximately $18,044,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of VNOM traded down $2.35 during trading hours on Friday, hitting $47.83. The company's stock had a trading volume of 790,287 shares, compared to its average volume of 1,763,090. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 20.55 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business has a 50 day simple moving average of $49.36 and a two-hundred day simple moving average of $49.40. Viper Energy, Inc. has a 52-week low of $34.45 and a 52-week high of $56.76.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $0.65 dividend. This is an increase from Viper Energy's previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy's dividend payout ratio (DPR) is presently 51.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on VNOM. Barclays raised their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Truist Financial decreased their price objective on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Viper Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $70.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, Bank of America assumed coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a "buy" rating and a $64.00 price objective for the company. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.55.

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.