Retirement Systems of Alabama Reduces Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Retirement Systems of Alabama lessened its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 279,012 shares of the oil and gas producer’s stock after selling 8,732 shares during the quarter. Retirement Systems of Alabama’s holdings in Viper Energy were worth $13,691,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC raised its holdings in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares during the period. National Bank of Canada FI lifted its position in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 1,165 shares in the last quarter. Versant Capital Management Inc bought a new stake in Viper Energy during the fourth quarter valued at about $94,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Viper Energy in the fourth quarter worth about $110,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of analyst reports. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Roth Mkm upped their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Barclays lifted their target price on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group assumed coverage on Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $49.38 on Friday. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 21.19 and a beta of 1.71. Viper Energy, Inc. has a 1 year low of $31.51 and a 1 year high of $56.76. The stock’s 50 day simple moving average is $49.77 and its two-hundred day simple moving average is $48.83. 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 firm also recently declared a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a dividend of $0.65 per share. 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 is presently 51.50%.

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.