Cullen Capital Management LLC Decreases Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Cullen Capital Management LLC decreased its position in Viper Energy, Inc. (NASDAQ:VNOM) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 27,881 shares of the oil and gas producer’s stock after selling 765 shares during the period. Cullen Capital Management LLC’s holdings in Viper Energy were worth $1,368,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Viper Energy by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer’s stock valued at $495,360,000 after purchasing an additional 239,404 shares during the last quarter. State Street Corp raised its position in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Viper Energy during the 4th quarter valued at approximately $95,505,000. Geode Capital Management LLC grew its position in shares of Viper Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,733,745 shares of the oil and gas producer’s stock worth $85,102,000 after buying an additional 35,084 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Viper Energy by 20.4% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,589,404 shares of the oil and gas producer’s stock worth $77,992,000 after buying an additional 268,959 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Down 9.4 %

VNOM stock opened at $37.64 on Friday. 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 firm’s 50-day simple moving average is $45.90 and its 200 day simple moving average is $49.01. The stock has a market cap of $8.02 billion, a PE ratio of 16.15 and a beta of 1.69. Viper Energy, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $56.76.

Viper Energy Increases Dividend

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

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler decreased their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company initiated coverage on Viper Energy in a report on Friday, March 14th. They issued an “overweight” rating and a $51.00 price objective for the company. Evercore ISI increased their target price on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Mizuho assumed coverage on Viper Energy in a research report on Monday, March 31st. They issued an “outperform” rating and a $56.00 target price for the company. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.