396,768 Shares in Viper Energy, Inc. (NASDAQ:VNOM) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 396,768 shares of the oil and gas producer's stock, valued at approximately $19,469,000. Freestone Grove Partners LP owned about 0.19% of Viper Energy at the end of the most recent quarter.

Several other large investors have also modified their holdings of VNOM. Gallo Partners LP bought a new position in Viper Energy in the 4th quarter worth approximately $2,127,000. Lido Advisors LLC increased its holdings in shares of Viper Energy by 19.8% during the 4th quarter. Lido Advisors LLC now owns 16,367 shares of the oil and gas producer's stock worth $803,000 after purchasing an additional 2,702 shares during the period. Northern Trust Corp raised its position in shares of Viper Energy by 26.5% during the fourth quarter. Northern Trust Corp now owns 865,493 shares of the oil and gas producer's stock valued at $42,470,000 after buying an additional 181,475 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Viper Energy by 5.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 74,819 shares of the oil and gas producer's stock valued at $3,671,000 after buying an additional 4,041 shares during the period. Finally, Quarry LP acquired a new position in shares of Viper Energy in the fourth quarter valued at $32,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of VNOM stock traded down $0.17 on Wednesday, reaching $39.80. The stock had a trading volume of 153,002 shares, compared to its average volume of 1,290,444. Viper Energy, Inc. has a 12 month low of $34.71 and a 12 month high of $56.76. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 17.06 and a beta of 1.05. The firm's 50-day moving average is $41.76 and its two-hundred day moving average is $47.54. 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 (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same quarter last year, the firm posted $0.49 EPS. On average, research analysts expect that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.02%. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VNOM shares. Truist Financial lowered their price objective on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Barclays reduced their price objective on Viper Energy from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler dropped their price target on shares of Viper Energy from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Raymond James set a $52.00 price target on shares of Viper Energy in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday. One 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.31.

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.