Principal Financial Group Inc. Has $10.62 Million Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Principal Financial Group Inc. increased its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 3,200.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 235,307 shares of the oil and gas producer's stock after buying an additional 228,177 shares during the period. Principal Financial Group Inc. owned 0.12% of Viper Energy worth $10,615,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of VNOM. Farther Finance Advisors LLC grew its position in shares of Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 450 shares in the last quarter. GAMMA Investing LLC grew its position in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock worth $31,000 after buying an additional 460 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Viper Energy in the 2nd quarter valued at $36,000. National Bank of Canada FI lifted its position in shares of Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer's stock valued at $63,000 after acquiring an additional 1,165 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer's stock worth $106,000 after purchasing an additional 1,541 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VNOM shares. The Goldman Sachs Group began coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. increased their price target 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. Truist Financial boosted their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Piper Sandler reduced their target price on Viper Energy from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.18.

Viper Energy Trading Up 0.9 %

Shares of VNOM stock traded up $0.46 during mid-day trading on Tuesday, reaching $49.07. 703,750 shares of the stock traded hands, compared to its average volume of 1,056,803. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 21.06 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock's fifty day simple moving average is $51.80 and its two-hundred day simple moving average is $46.97. Viper Energy, Inc. has a 1-year low of $30.21 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company's revenue for the quarter was down 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 EPS. On average, research analysts anticipate that Viper Energy, Inc. will post 2.01 EPS for the current fiscal year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy's dividend payout ratio is currently 51.50%.

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.