Tcfg Wealth Management LLC Has $1.72 Million Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Tcfg Wealth Management LLC cut its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,055 shares of the oil and gas producer's stock after selling 6,550 shares during the period. Viper Energy makes up approximately 0.9% of Tcfg Wealth Management LLC's investment portfolio, making the stock its 22nd largest holding. Tcfg Wealth Management LLC's holdings in Viper Energy were worth $1,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VNOM. Rhumbline Advisers grew its position in shares of Viper Energy by 6.4% during the 4th quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock worth $13,165,000 after buying an additional 16,172 shares during the period. New York State Teachers Retirement System boosted its stake in Viper Energy by 8.3% during the 4th quarter. New York State Teachers Retirement System now owns 23,604 shares of the oil and gas producer's stock worth $1,158,000 after acquiring an additional 1,800 shares during the last quarter. Van ECK Associates Corp acquired a new position in Viper Energy during the fourth quarter valued at approximately $3,804,000. Louisiana State Employees Retirement System increased its stake in Viper Energy by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the oil and gas producer's stock valued at $1,403,000 after purchasing an additional 500 shares in the last quarter. Finally, Savant Capital LLC raised its holdings in Viper Energy by 2.1% in the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer's stock worth $706,000 after purchasing an additional 293 shares during the period. Institutional investors own 87.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America started coverage on shares of Viper Energy in a report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 price target for the company. KeyCorp raised Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 target price for the company in a research note on Friday, December 13th. The Goldman Sachs Group started coverage on Viper Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $70.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Viper Energy from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Truist Financial lowered their target price on Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.55.

Viper Energy Stock Up 0.2 %

Viper Energy stock traded up $0.11 during midday trading on Wednesday, reaching $50.47. The stock had a trading volume of 1,046,148 shares, compared to its average volume of 1,823,114. Viper Energy, Inc. has a 1-year low of $34.45 and a 1-year high of $56.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The firm's fifty day simple moving average is $49.38 and its 200-day simple moving average is $49.39. The stock has a market capitalization of $10.75 billion, a P/E ratio of 21.66 and a beta of 1.71.

Viper Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid 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 is Thursday, March 6th. 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.