Heartland Advisors Inc. Cuts Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Heartland Advisors Inc. cut its position in Viper Energy, Inc. (NASDAQ:VNOM) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 250,000 shares of the oil and gas producer’s stock after selling 50,000 shares during the period. Heartland Advisors Inc. owned approximately 0.12% of Viper Energy worth $12,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VNOM. Golden State Wealth Management LLC bought a new stake in shares of Viper Energy during the fourth quarter valued at approximately $25,000. Assetmark Inc. boosted its stake 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. increased its holdings 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 purchased a new position in shares of Viper Energy in the fourth quarter worth $55,000. Finally, National Bank of Canada FI lifted its holdings 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 purchasing an additional 1,165 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $44.40 on Friday. 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 stock has a 50-day simple moving average of $46.67 and a two-hundred day simple moving average of $49.02. The firm has a market capitalization of $9.46 billion, a PE ratio of 19.06 and a beta of 1.69. Viper Energy, Inc. has a 52-week low of $35.46 and a 52-week high of $56.76.

Viper Energy Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on VNOM. Wells Fargo & Company initiated coverage on Viper Energy in a research report on Friday, March 14th. They issued an “overweight” rating and a $51.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a report on Friday, December 13th. Finally, Piper Sandler decreased their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.