Legal & General Group Plc decreased its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,262 shares of the oil and gas producer's stock after selling 9,371 shares during the period. Legal & General Group Plc owned 0.08% of Viper Energy worth $7,913,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Viper Energy by 16.0% during 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 acquiring an additional 234,048 shares during the period. Principal Financial Group Inc. boosted its position in shares of Viper Energy by 3,200.2% in the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock worth $10,615,000 after purchasing an additional 228,177 shares during the period. Retirement Systems of Alabama bought a new stake in shares of Viper Energy during the 3rd quarter valued at $12,980,000. Barclays PLC lifted its stake in shares of Viper Energy by 103.3% during the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock valued at $1,982,000 after buying an additional 22,334 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Viper Energy in the 4th quarter worth $358,000. 87.72% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
VNOM has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on Viper Energy from $45.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Raymond James reiterated an "outperform" rating and issued a $58.00 price target (down from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. Mizuho started coverage on Viper Energy in a research report on Monday, March 31st. They set an "outperform" rating and a $56.00 price objective for the company. Wells Fargo & Company decreased their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Viper Energy from $51.00 to $49.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.92.
Get Our Latest Stock Report on Viper Energy
Viper Energy Stock Down 4.4 %
NASDAQ VNOM traded down $1.81 during trading on Monday, reaching $39.56. 1,554,745 shares of the company's stock traded hands, compared to its average volume of 1,291,668. The company's 50 day simple moving average is $43.52 and its two-hundred day simple moving average is $48.36. Viper Energy, Inc. has a 12-month low of $34.71 and a 12-month high of $56.76. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 16.98 and a beta of 1.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.
Viper Energy Increases Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Viper Energy's previous dividend of $0.22. Viper Energy's dividend payout ratio is currently 32.70%.
Viper Energy Company Profile
(
Free Report)
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.
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