Freestone Grove Partners LP Purchases Shares of 396,768 Viper Energy, Inc. (NASDAQ:VNOM)

Freestone Grove Partners LP purchased a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 396,768 shares of the oil and gas producer's stock, valued at approximately $19,469,000. Freestone Grove Partners LP owned approximately 0.19% of Viper Energy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Viper Energy by 103.3% in the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after buying an additional 22,334 shares in the last quarter. Virtu Financial LLC acquired a new stake in Viper Energy in the 3rd quarter valued at about $233,000. Franklin Resources Inc. purchased a new position in Viper Energy in the 3rd quarter worth approximately $3,037,000. Retirement Systems of Alabama acquired a new position in shares of Viper Energy during the 3rd quarter worth approximately $12,980,000. Finally, Principal Financial Group Inc. grew its position in shares of 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 valued at $10,615,000 after purchasing an additional 228,177 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Viper Energy from $60.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. KeyCorp dropped their price objective on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Piper Sandler reduced their target price on shares of Viper Energy from $63.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial decreased their target price on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.15.

Viper Energy Trading Up 1.3 %

Viper Energy stock traded up $0.56 during midday trading on Friday, reaching $42.08. 726,980 shares of the stock traded hands, compared to its average volume of 1,291,427. The firm has a market cap of $8.97 billion, a PE ratio of 18.06 and a beta of 1.23. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $41.93 and a two-hundred day simple moving average of $47.70. Viper Energy, Inc. has a 12-month low of $34.71 and a 12-month high of $56.76.

Viper Energy Increases Dividend

The firm also recently disclosed 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 a boost from Viper Energy's previous dividend of $0.22. Viper Energy's payout ratio is 32.70%.

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.