Truist Financial Corp Has $363,000 Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Truist Financial Corp increased its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,388 shares of the oil and gas producer’s stock after buying an additional 504 shares during the period. Truist Financial Corp’s holdings in Viper Energy were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Viper Energy by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 237,200 shares of the oil and gas producer’s stock valued at $11,639,000 after purchasing an additional 1,893 shares during the last quarter. Americana Partners LLC increased its holdings in shares of Viper Energy by 0.6% in the fourth quarter. Americana Partners LLC now owns 78,836 shares of the oil and gas producer’s stock valued at $3,869,000 after purchasing an additional 451 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Viper Energy by 6.4% in the fourth quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer’s stock valued at $13,165,000 after purchasing an additional 16,172 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Viper Energy by 8.3% in the fourth quarter. New York State Teachers Retirement System now owns 23,604 shares of the oil and gas producer’s stock valued at $1,158,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Viper Energy in the fourth quarter valued at $3,804,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Price Performance

Viper Energy stock opened at $44.90 on Wednesday. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 19.27 and a beta of 1.71. Viper Energy, Inc. has a 52-week low of $34.45 and a 52-week high of $56.76. The stock’s 50 day moving average price is $48.86 and its two-hundred day moving average price is $49.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

Viper Energy Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $0.65 dividend. This is a boost 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 32.70%.

Analyst Upgrades and Downgrades

VNOM has been the subject of a number of recent research reports. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research report on Friday, December 13th. StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler reduced 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 report on Tuesday, December 17th. Raymond James reissued an “outperform” rating and issued a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. Finally, Bank of America initiated coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

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.