Pacific Heights Asset Management LLC Buys 75,000 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Pacific Heights Asset Management LLC grew its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the oil and gas producer's stock after buying an additional 75,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.13% of Viper Energy worth $12,268,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Viper Energy by 4,836.9% in the 3rd quarter. FMR LLC now owns 74,596 shares of the oil and gas producer's stock valued at $3,365,000 after purchasing an additional 73,085 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Viper Energy in the third quarter valued at approximately $984,000. Geode Capital Management LLC grew its holdings 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 worth $76,647,000 after buying an additional 234,048 shares in the last quarter. Summit Global Investments bought a new position in Viper Energy in the 3rd quarter worth approximately $706,000. Finally, Retirement Systems of Alabama acquired a new stake in Viper Energy in the 3rd quarter valued at approximately $12,980,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VNOM shares. Piper Sandler decreased their price target 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. Bank of America assumed coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 target price for the company. Raymond James restated an "outperform" rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a report on Monday, March 3rd. Finally, Truist Financial dropped their target price on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.73.

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Viper Energy Trading Up 1.9 %

Shares of NASDAQ VNOM traded up $0.78 during mid-day trading on Tuesday, hitting $41.13. 1,245,761 shares of the company traded hands, compared to its average volume of 1,213,655. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 1 year low of $34.45 and a 1 year high of $56.76. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 17.65 and a beta of 1.69. The business has a 50 day moving average of $48.32 and a two-hundred day moving average of $49.35.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a dividend of $0.65 per share. This is a positive change from Viper Energy's previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy's payout ratio 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.