Wellington Management Group LLP Trims Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Wellington Management Group LLP decreased its holdings in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,651,977 shares of the oil and gas producer's stock after selling 976,788 shares during the period. Wellington Management Group LLP owned 5.00% of Viper Energy worth $522,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VNOM. Golden State Wealth Management LLC bought a new position in Viper Energy during the fourth quarter valued at $25,000. Assetmark Inc. grew its holdings in Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 518 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Viper Energy in the fourth quarter worth about $55,000. Finally, National Bank of Canada FI boosted its position in shares of 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 valued at $63,000 after buying an additional 1,165 shares during the period. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Down 9.4 %

Shares of NASDAQ VNOM traded down $3.92 during mid-day trading on Friday, reaching $37.64. 2,515,137 shares of the company were exchanged, compared to its average volume of 1,252,015. The firm has a 50-day moving average of $45.90 and a 200 day moving average of $49.01. Viper Energy, Inc. has a 1 year low of $35.46 and a 1 year high of $56.76. 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 stock has a market cap of $8.02 billion, a price-to-earnings ratio of 16.15 and a beta of 1.69.

Viper Energy Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $0.65 dividend. 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 32.70%.

Analyst Ratings Changes

A number of brokerages recently issued reports on VNOM. StockNews.com raised Viper Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Viper Energy from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Barclays upped their price target 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. 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. Finally, Evercore ISI boosted their price objective on shares of Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and a consensus target price of $58.77.

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.