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

Gallo Partners LP acquired a new stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the fourth quarter, according to its most recent Form 13F filing 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.

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

Viper Energy Trading Up 1.3 %

Viper Energy stock traded up $0.56 during trading on Friday, reaching $42.08. 726,980 shares of the company were exchanged, compared to its average volume of 1,289,623. 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 $41.93 and its two-hundred day simple moving average is $47.72. The company has a market capitalization of $8.97 billion, a P/E ratio of 18.06 and a beta of 1.23. Viper Energy, Inc. has a 52-week low of $34.71 and a 52-week high of $56.76.

Viper Energy Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $0.65 per share. This is a boost from Viper Energy's previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy's payout ratio is presently 32.70%.

Analysts Set New Price Targets

VNOM has been the subject of several research analyst reports. Mizuho assumed coverage on Viper Energy in a research note on Monday, March 31st. They set an "outperform" rating and a $56.00 target price for the company. StockNews.com raised shares of Viper Energy from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Raymond James set a $52.00 target price on shares of Viper Energy in a research note on Monday, April 21st. Piper Sandler decreased their price target 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. Finally, KeyCorp cut their price objective on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research note 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.15.

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.