Bank of America Corp DE Trims Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Bank of America Corp DE decreased its stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,996 shares of the oil and gas producer's stock after selling 135,982 shares during the quarter. Bank of America Corp DE owned approximately 0.19% of Viper Energy worth $19,579,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Viper Energy in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Viper Energy during the 4th quarter valued at approximately $32,000. Assetmark Inc. lifted its stake in shares of Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 518 shares during the period. First Horizon Advisors Inc. boosted 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 buying an additional 214 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Viper Energy during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Trading Down 0.2%

Shares of Viper Energy stock opened at $41.28 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The stock's 50 day simple moving average is $41.48 and its 200-day simple moving average is $46.85. The stock has a market cap of $8.79 billion, a P/E ratio of 17.72 and a beta of 1.05. Viper Energy, Inc. has a 1-year low of $34.71 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Analysts predict that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VNOM shares. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research note on Monday, March 3rd. Truist Financial lowered their price target on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Raymond James set a $52.00 price objective on Viper Energy in a report on Monday, April 21st. Wells Fargo & Company reduced their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, KeyCorp decreased their target price on Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Viper Energy has an average rating of "Moderate Buy" and an average target price of $56.08.

Viper Energy 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.

Want to see what other hedge funds are holding VNOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viper Energy, Inc. (NASDAQ:VNOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.