SCP Investment LP Makes New $530,000 Investment in Viper Energy, Inc. (NASDAQ:VNOM)

SCP Investment LP acquired a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,800 shares of the oil and gas producer's stock, valued at approximately $530,000. Viper Energy comprises about 0.4% of SCP Investment LP's portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Viper Energy by 4,836.9% during 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 during the last quarter. Geode Capital Management LLC increased its position in Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer's stock valued at $76,647,000 after acquiring an additional 234,048 shares during the last quarter. Retirement Systems of Alabama bought a new stake in shares of Viper Energy in the 3rd quarter worth about $12,980,000. Principal Financial Group Inc. boosted its stake in shares of Viper Energy by 3,200.2% during 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 purchasing an additional 228,177 shares during the period. Finally, Barclays PLC raised its position in Viper Energy by 103.3% in the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after purchasing an additional 22,334 shares during the period. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Shares of VNOM traded down $4.19 during trading hours on Thursday, reaching $41.75. 392,165 shares of the company traded hands, compared to its average volume of 1,237,670. 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 business has a fifty day moving average price of $46.24 and a 200-day moving average price of $49.07. The stock has a market capitalization of $8.89 billion, a P/E ratio of 17.92 and a beta of 1.69. Viper Energy, Inc. has a 12-month low of $35.46 and a 12-month high of $56.76.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $0.65 per share. This is an increase from Viper Energy's previous dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 6th. Viper Energy's dividend payout ratio (DPR) is presently 32.70%.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of analyst reports. Truist Financial cut their target price on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company assumed coverage on shares of Viper Energy in a report on Friday, March 14th. They issued an "overweight" rating and a $51.00 price target on the stock. KeyCorp upgraded shares of Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price objective for the company in a report on Friday, December 13th. StockNews.com upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI lifted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.77.

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.