Raymond James Financial Inc. Acquires Shares of 1,946,305 Viper Energy, Inc. (NASDAQ:VNOM)

Raymond James Financial Inc. purchased a new stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,946,305 shares of the oil and gas producer's stock, valued at approximately $95,505,000. Raymond James Financial Inc. owned 0.91% of Viper Energy at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VNOM. New York State Teachers Retirement System bought a new stake in Viper Energy in the third quarter valued at about $984,000. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 450 shares in the last quarter. Amalgamated Bank grew its stake in shares of Viper Energy by 200.5% in the 3rd quarter. Amalgamated Bank now owns 49,334 shares of the oil and gas producer's stock valued at $2,225,000 after purchasing an additional 32,916 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Viper Energy by 3,200.2% in the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock worth $10,615,000 after buying an additional 228,177 shares in the last quarter. Finally, Summit Global Investments bought a new position in shares of Viper Energy during the 3rd quarter worth approximately $706,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. KeyCorp upgraded Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. Truist Financial lowered their target price on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Piper Sandler dropped their target price on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Barclays boosted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Raymond James reaffirmed an "outperform" rating and set a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.73.

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Viper Energy Stock Performance

Shares of Viper Energy stock traded up $1.07 during trading on Wednesday, hitting $42.20. 1,388,084 shares of the stock were exchanged, compared to its average volume of 1,214,883. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $48.16 and a 200-day moving average price of $49.31. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 18.11 and a beta of 1.69. Viper Energy, Inc. has a 1-year low of $35.29 and a 1-year high of $56.76.

Viper Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $0.65 dividend. This is a positive change from Viper Energy's previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 6th. Viper Energy's dividend payout ratio is currently 32.70%.

Viper Energy 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.