Boston Financial Mangement LLC Takes Position in Viper Energy, Inc. (NASDAQ:VNOM)

Boston Financial Mangement LLC purchased a new stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,160 shares of the oil and gas producer’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VNOM. Raymond James & Associates lifted its holdings in shares of Viper Energy by 41.9% during the third quarter. Raymond James & Associates now owns 145,693 shares of the oil and gas producer’s stock valued at $6,572,000 after purchasing an additional 42,999 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Viper Energy during the third quarter valued at $144,000. International Assets Investment Management LLC increased its position in Viper Energy by 7,251.2% during the third quarter. International Assets Investment Management LLC now owns 71,454 shares of the oil and gas producer’s stock valued at $3,223,000 after acquiring an additional 70,482 shares during the last quarter. Spirit of America Management Corp NY increased its position in Viper Energy by 44.4% during the third quarter. Spirit of America Management Corp NY now owns 28,450 shares of the oil and gas producer’s stock valued at $1,283,000 after acquiring an additional 8,750 shares during the last quarter. Finally, Cross Staff Investments Inc purchased a new stake in Viper Energy during the third quarter valued at $212,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Price Performance

NASDAQ:VNOM opened at $48.33 on Friday. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 20.74 and a beta of 1.71. Viper Energy, Inc. has a 1 year low of $34.45 and a 1 year high of $56.76. The business has a 50 day simple moving average of $49.36 and a 200-day simple moving average of $49.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $0.65 dividend. This is a positive change 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 presently 51.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VNOM. Raymond James restated an “outperform” rating and issued a $58.00 price target (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. Barclays upped their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America assumed coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. The Goldman Sachs Group assumed coverage on Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy 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.