Viper Energy, Inc. (NASDAQ:VNOM) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its position in Viper Energy, Inc. (NASDAQ:VNOM) by 20.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,462 shares of the oil and gas producer’s stock after acquiring an additional 3,474 shares during the period. Concurrent Investment Advisors LLC’s holdings in Viper Energy were worth $1,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its holdings in shares of Viper Energy by 20.4% in the 4th quarter. Private Advisor Group LLC now owns 7,862 shares of the oil and gas producer’s stock worth $386,000 after acquiring an additional 1,333 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Viper Energy by 2.3% in the 4th quarter. New York State Common Retirement Fund now owns 149,576 shares of the oil and gas producer’s stock worth $7,340,000 after acquiring an additional 3,400 shares during the period. Truist Financial Corp grew its holdings in shares of Viper Energy by 7.3% in the 4th quarter. Truist Financial Corp now owns 7,388 shares of the oil and gas producer’s stock worth $363,000 after acquiring an additional 504 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Viper Energy by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 237,200 shares of the oil and gas producer’s stock worth $11,639,000 after acquiring an additional 1,893 shares during the period. Finally, Americana Partners LLC grew its holdings in shares of Viper Energy by 0.6% in the 4th quarter. Americana Partners LLC now owns 78,836 shares of the oil and gas producer’s stock worth $3,869,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and set a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. Bank of America began coverage on Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. The Goldman Sachs Group began coverage on Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. Finally, Truist Financial dropped their price target on 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 investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $48.33 on Friday. The company has a market cap of $10.30 billion, a P/E ratio of 20.74 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 52 week low of $34.45 and a 52 week high of $56.76. The business has a fifty day simple moving average of $49.30 and a 200-day simple moving average of $49.46.

Viper Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s payout ratio is currently 51.50%.

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.