First Trust Advisors LP Trims Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

First Trust Advisors LP cut its stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 21.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,019 shares of the oil and gas producer's stock after selling 91,388 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Viper Energy worth $16,243,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Retirement Systems of Alabama acquired a new position in Viper Energy during the third quarter worth about $12,980,000. Principal Financial Group Inc. lifted its stake in Viper Energy by 3,200.2% in the 3rd 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 in the last quarter. Barclays PLC boosted its holdings in shares of Viper Energy by 103.3% during the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after purchasing an additional 22,334 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Viper Energy in the fourth quarter valued at approximately $358,000. Finally, Rhumbline Advisers grew its position in shares of Viper Energy by 6.4% in the fourth quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock valued at $13,165,000 after purchasing an additional 16,172 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VNOM has been the topic of a number of recent research reports. The Goldman Sachs Group set a $72.00 price objective on Viper Energy in a research note on Monday, March 3rd. KeyCorp lowered their price target on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company cut their price objective on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Mizuho started coverage on shares of Viper Energy in a report on Monday, March 31st. They issued an "outperform" rating and a $56.00 target price on the stock. Finally, Barclays dropped their price target on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Viper Energy has an average rating of "Moderate Buy" and a consensus target price of $57.15.

Viper Energy Stock Up 3.1 %

VNOM traded up $1.23 on Thursday, reaching $41.56. The company's stock had a trading volume of 519,887 shares, compared to its average volume of 1,290,867. 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, Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The stock has a 50 day moving average of $42.11 and a two-hundred day moving average of $47.85. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 17.90 and a beta of 1.23.

Viper Energy Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid 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 was Thursday, March 6th. Viper Energy's dividend payout ratio (DPR) is currently 32.70%.

About Viper Energy

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.