Bank of New York Mellon Corp Sells 600,414 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Bank of New York Mellon Corp trimmed its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096,534 shares of the oil and gas producer’s stock after selling 600,414 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Viper Energy worth $53,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its stake in shares of 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 worth $172,918,000 after acquiring an additional 1,682,183 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 234,048 shares in the last quarter. Merewether Investment Management LP increased its stake in shares of Viper Energy by 22.9% in 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 acquiring an additional 160,600 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Viper Energy by 11.8% during 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 purchasing an additional 66,222 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in Viper Energy during the 3rd quarter valued at about $18,044,000. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $42.97 on Thursday. The firm’s 50-day moving average price is $48.75 and its 200-day moving average price is $49.45. 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 market cap of $9.15 billion, a PE ratio of 18.44 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.

Viper Energy Increases Dividend

The firm also recently disclosed 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 an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is presently 32.70%.

Wall Street Analysts Forecast Growth

VNOM has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Bank of America initiated coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective on the stock. Barclays increased their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Truist Financial cut their price objective on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.