Massachusetts Financial Services Co. MA Reduces Position in Viper Energy, Inc. (NASDAQ:VNOM)

Massachusetts Financial Services Co. MA reduced its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,001,065 shares of the oil and gas producer's stock after selling 84,776 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.13% of Viper Energy worth $90,268,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Viper Energy by 23.3% during the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer's stock worth $326,184,000 after purchasing an additional 1,603,333 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Viper Energy by 2.6% during the second quarter. TD Asset Management Inc now owns 841,414 shares of the oil and gas producer's stock valued at $31,578,000 after acquiring an additional 21,420 shares in the last quarter. SIR Capital Management L.P. raised its position in shares of Viper Energy by 26.5% in the 2nd quarter. SIR Capital Management L.P. now owns 776,800 shares of the oil and gas producer's stock valued at $29,153,000 after purchasing an additional 162,900 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Viper Energy by 326.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer's stock worth $28,554,000 after purchasing an additional 582,247 shares in the last quarter. Finally, Yaupon Capital Management LP boosted its stake in Viper Energy by 137.8% in the 1st quarter. Yaupon Capital Management LP now owns 444,301 shares of the oil and gas producer's stock worth $17,088,000 after purchasing an additional 257,491 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on VNOM shares. Barclays upped their price target on shares of Viper Energy from $52.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Raymond James increased their price objective on Viper Energy from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Truist Financial lifted their target price on Viper Energy from $57.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Viper Energy currently has an average rating of "Moderate Buy" and an average price target of $54.75.

Viper Energy Trading Up 3.4 %

Shares of VNOM traded up $1.86 during midday trading on Friday, hitting $56.55. 883,496 shares of the stock were exchanged, compared to its average volume of 824,188. 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 $10.65 billion, a P/E ratio of 24.27 and a beta of 1.72. Viper Energy, Inc. has a 52-week low of $29.03 and a 52-week high of $56.63. The stock has a fifty day simple moving average of $50.52 and a 200 day simple moving average of $44.38.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy's revenue was down 28.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, research analysts anticipate that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.12%. Viper Energy's dividend payout ratio is presently 51.50%.

Viper Energy Profile

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.