Retirement Systems of Alabama Has $13.69 Million Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Retirement Systems of Alabama reduced its holdings in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 279,012 shares of the oil and gas producer's stock after selling 8,732 shares during the quarter. Retirement Systems of Alabama owned about 0.15% of Viper Energy worth $13,691,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in VNOM. Farther Finance Advisors LLC grew its position 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 worth $26,000 after buying an additional 450 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 460 shares during the period. National Bank of Canada FI lifted its stake in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 1,165 shares during the period. Versant Capital Management Inc bought a new position in Viper Energy during the fourth quarter worth about $94,000. Finally, Geneos Wealth Management Inc. bought a new position in Viper Energy during the fourth quarter worth about $110,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VNOM shares. StockNews.com cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research note on Monday, February 3rd. Truist Financial dropped their price objective on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Barclays lifted their target price on shares of Viper Energy from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. The Goldman Sachs Group started coverage on shares of Viper Energy in a report on Monday, December 2nd. They set a "buy" rating and a $70.00 target price for the company. Finally, Piper Sandler lowered their target price on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Viper Energy Stock Up 1.1 %

VNOM traded up $0.54 during trading on Tuesday, hitting $51.14. The company had a trading volume of 1,376,772 shares, compared to its average volume of 1,916,718. The company has a market capitalization of $10.90 billion, a PE ratio of 21.95 and a beta of 1.71. Viper Energy, Inc. has a one year low of $32.24 and a one year high of $56.76. The firm's 50-day moving average price is $49.60 and its 200 day moving average price is $49.03. 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 Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Viper Energy's previous dividend of $0.22. Viper Energy's dividend payout ratio is 51.50%.

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.