Capital World Investors Sells 388,688 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Capital World Investors lowered its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,037,410 shares of the oil and gas producer's stock after selling 388,688 shares during the period. Capital World Investors owned approximately 2.83% of Viper Energy worth $296,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of Viper Energy during the 4th quarter worth about $25,000. Assetmark Inc. increased its stake in shares of Viper Energy by 321.7% during the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock valued at $33,000 after acquiring an additional 518 shares during the period. First Horizon Advisors Inc. raised its holdings in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 214 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Viper Energy in the fourth quarter worth approximately $55,000. Finally, Covestor Ltd lifted its position in Viper Energy by 8,100.0% in the fourth quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,296 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Performance

VNOM stock traded up $0.58 during midday trading on Friday, hitting $41.58. 495,924 shares of the company traded hands, compared to its average volume of 1,292,048. Viper Energy, Inc. has a twelve month low of $34.71 and a twelve month high of $56.76. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 17.85 and a beta of 1.23. 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 business has a 50 day simple moving average of $42.60 and a 200-day simple moving average of $48.05.

Viper Energy Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued 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 dividend payout ratio (DPR) is 32.70%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com raised Viper Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Mizuho assumed coverage on shares of Viper Energy in a research report on Monday, March 31st. They set an "outperform" rating and a $56.00 price objective on the stock. Raymond James set a $52.00 target price on Viper Energy in a research note on Monday. Evercore ISI upped their price objective on shares of Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group set a $72.00 price target on shares of Viper Energy in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.15.

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.