Adage Capital Partners GP L.L.C. Lowers Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Adage Capital Partners GP L.L.C. reduced its stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 50.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,417,869 shares of the oil and gas producer's stock after selling 1,456,531 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.67% of Viper Energy worth $69,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of Viper Energy in the 4th quarter worth approximately $25,000. Assetmark Inc. boosted its position in shares of Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 518 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 214 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Viper Energy in the 4th quarter worth approximately $55,000. Finally, Covestor Ltd boosted its position in shares of Viper Energy by 8,100.0% in the 4th quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,296 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of VNOM stock traded up $0.54 during trading hours on Monday, reaching $42.12. 624,144 shares of the company traded hands, compared to its average volume of 1,292,218. Viper Energy, Inc. has a 12-month low of $34.71 and a 12-month high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market cap of $8.97 billion, a P/E ratio of 18.08 and a beta of 1.23. The firm has a 50-day moving average price of $42.60 and a 200 day moving average price of $48.01.

Viper Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on VNOM. StockNews.com raised Viper Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on Viper Energy from $51.00 to $49.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company reduced their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho assumed coverage on Viper Energy in a report on Monday, March 31st. They issued an "outperform" rating and a $56.00 price objective for the company. Finally, Piper Sandler reduced their price objective on Viper Energy from $63.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.15.

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.