Connor Clark & Lunn Investment Management Ltd. Has $416,000 Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Connor Clark & Lunn Investment Management Ltd. cut its position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 68.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,482 shares of the oil and gas producer's stock after selling 17,996 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Viper Energy were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of VNOM. Miller Financial Services LLC acquired a new stake in shares of Viper Energy during the 4th quarter worth $245,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viper Energy by 43.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,351 shares of the oil and gas producer's stock worth $1,489,000 after buying an additional 9,122 shares in the last quarter. Pacific Heights Asset Management LLC increased its holdings in Viper Energy by 42.9% in the 4th quarter. Pacific Heights Asset Management LLC now owns 250,000 shares of the oil and gas producer's stock valued at $12,268,000 after buying an additional 75,000 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Viper Energy in the 4th quarter valued at approximately $95,505,000. Finally, Arizona State Retirement System lifted its holdings in shares of Viper Energy by 12.9% during the 4th quarter. Arizona State Retirement System now owns 29,855 shares of the oil and gas producer's stock worth $1,465,000 after acquiring an additional 3,401 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

VNOM has been the subject of several research analyst reports. KeyCorp upgraded shares of Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price objective for the company in a research report on Friday, December 13th. Bank of America started coverage on Viper Energy in a report on Tuesday, November 26th. They set a "buy" rating and a $64.00 price target for the company. StockNews.com raised Viper Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on Viper Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Finally, Truist Financial reduced their price target on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Viper Energy presently has a consensus rating of "Moderate Buy" and an average target price of $59.00.

Viper Energy Trading Down 0.7 %

Shares of VNOM stock traded down $0.33 on Tuesday, hitting $45.30. The company had a trading volume of 443,769 shares, compared to its average volume of 1,200,239. The stock's 50-day moving average is $47.03 and its two-hundred day moving average is $49.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The firm has a market cap of $9.65 billion, a P/E ratio of 19.45 and a beta of 1.69. Viper Energy, Inc. has a twelve month low of $35.46 and a twelve month high of $56.76.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.65 per share. This is an increase from Viper Energy's previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy's dividend payout ratio (DPR) is presently 32.70%.

About Viper Energy

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.