Kestra Private Wealth Services LLC Acquires 662 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Kestra Private Wealth Services LLC lifted its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,128 shares of the oil and gas producer’s stock after purchasing an additional 662 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Viper Energy were worth $644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VNOM. State Street Corp increased its position in 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 acquiring an additional 1,682,183 shares in the last quarter. Geode Capital Management LLC raised its position in Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after purchasing an additional 234,048 shares during the last quarter. Merewether Investment Management LP lifted its holdings in Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after buying an additional 160,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Viper Energy by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after buying an additional 66,222 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in shares of Viper Energy in the 3rd quarter valued at $18,044,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Down 1.2 %

Viper Energy stock opened at $49.41 on Friday. Viper Energy, Inc. has a twelve month low of $33.03 and a twelve month 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 company has a 50 day moving average of $49.45 and a 200-day moving average of $49.11. The stock has a market capitalization of $10.53 billion, a PE ratio of 21.21 and a beta of 1.71.

Viper Energy Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $0.65 dividend. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is currently 51.50%.

Wall Street Analysts Forecast Growth

VNOM has been the topic of several recent research reports. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Piper Sandler lowered their price target on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a report on Friday, December 13th. Barclays lifted their target price 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. Finally, Truist Financial dropped their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average price target of $59.55.

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.