PNC Financial Services Group Inc. Has $448,000 Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

PNC Financial Services Group Inc. reduced its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,125 shares of the oil and gas producer’s stock after selling 3,000 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Viper Energy were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Viper Energy by 78.2% during 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 buying an additional 1,682,183 shares during the period. Raymond James Financial Inc. acquired a new position in Viper Energy during the 4th quarter worth approximately $95,505,000. Geode Capital Management LLC raised its stake in Viper Energy by 16.0% during 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 buying an additional 234,048 shares during the period. Merewether Investment Management LP raised its stake in Viper Energy by 22.9% during 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 buying an additional 160,600 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Viper Energy by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 632,568 shares of the oil and gas producer’s stock worth $31,040,000 after purchasing an additional 7,307 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VNOM has been the subject of a number of recent research reports. Raymond James reissued an “outperform” rating and set a $58.00 price objective (down from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. StockNews.com raised Viper Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Bank of America initiated coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective for the company. Truist Financial decreased their price objective on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Viper Energy Stock Performance

VNOM stock opened at $45.20 on Thursday. The business has a 50 day moving average of $47.34 and a 200-day moving average of $49.10. Viper Energy, Inc. has a 12-month low of $35.46 and a 12-month high of $56.76. The firm has a market cap of $9.63 billion, a PE ratio of 19.40 and a beta of 1.69. 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 Increases Dividend

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

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.