Gallo Partners LP Invests $2.13 Million in Viper Energy, Inc. (NASDAQ:VNOM)

Gallo Partners LP acquired a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,344 shares of the oil and gas producer's stock, valued at approximately $2,127,000.

Other large investors have also recently bought and sold shares of the company. Lido Advisors LLC increased its stake in shares of Viper Energy by 19.8% in the 4th quarter. Lido Advisors LLC now owns 16,367 shares of the oil and gas producer's stock valued at $803,000 after purchasing an additional 2,702 shares during the last quarter. Northern Trust Corp grew its position in Viper Energy by 26.5% in 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 acquiring an additional 181,475 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Viper Energy by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 74,819 shares of the oil and gas producer's stock worth $3,671,000 after acquiring an additional 4,041 shares in the last quarter. Quarry LP bought a new position in shares of Viper Energy in the fourth quarter worth about $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Viper Energy in the 4th quarter valued at approximately $2,289,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Viper Energy from $51.00 to $49.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group set a $72.00 price objective on Viper Energy in a report on Monday, March 3rd. StockNews.com raised Viper Energy from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price target on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James set a $52.00 price target on Viper Energy in a report on Monday, April 21st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.15.

Viper Energy Trading Down 0.7 %

Viper Energy stock traded down $0.30 during trading hours on Monday, reaching $41.79. 192,275 shares of the company's stock were exchanged, compared to its average volume of 1,634,210. The firm has a market capitalization of $8.90 billion, a PE ratio of 17.93 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 firm's 50 day simple moving average is $41.93 and its 200 day simple moving average is $47.67. Viper Energy, Inc. has a twelve month low of $34.71 and a twelve month high of $56.76.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Viper Energy's previous dividend of $0.22. Viper Energy's payout ratio is 32.70%.

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.