Bridgewater Associates LP Sells 11,011 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Bridgewater Associates LP reduced its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,289 shares of the oil and gas producer's stock after selling 11,011 shares during the quarter. Bridgewater Associates LP owned approximately 0.05% of Viper Energy worth $5,657,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position 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 buying an additional 234,048 shares during the period. Principal Financial Group Inc. grew its holdings in Viper Energy by 3,200.2% in the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock worth $10,615,000 after purchasing an additional 228,177 shares during the period. Retirement Systems of Alabama bought a new position in shares of Viper Energy during the third quarter valued at approximately $12,980,000. Barclays PLC lifted its holdings in shares of Viper Energy by 103.3% during the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock valued at $1,982,000 after purchasing an additional 22,334 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Viper Energy during the fourth quarter valued at approximately $358,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

NASDAQ:VNOM traded up $0.18 during trading hours on Wednesday, reaching $40.85. The company had a trading volume of 261,608 shares, compared to its average volume of 1,288,126. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 52 week low of $34.71 and a 52 week high of $56.76. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 17.53 and a beta of 1.23. The firm's 50 day moving average price is $43.13 and its 200-day moving average price is $48.24.

Viper Energy Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $0.65 dividend. The ex-dividend date was Thursday, March 6th. This is an increase from Viper Energy's previous dividend of $0.22. Viper Energy's payout ratio is 32.70%.

Analyst Upgrades and Downgrades

VNOM has been the subject of several recent research reports. 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 report on Monday, February 3rd. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a report on Monday, March 3rd. Evercore ISI lifted their target price on shares of Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Mizuho initiated coverage on shares of Viper Energy in a report on Monday, March 31st. They set an "outperform" rating and a $56.00 target price for the company. Finally, KeyCorp lowered their target price on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a report on Monday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Viper Energy has an average rating of "Moderate Buy" and a consensus target price of $57.38.

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.