Boston Financial Mangement LLC Makes New $204,000 Investment in Viper Energy, Inc. (NASDAQ:VNOM)

Boston Financial Mangement LLC purchased a new position in Viper Energy, Inc. (NASDAQ:VNOM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,160 shares of the oil and gas producer’s stock, valued at approximately $204,000.

A number of other large investors have also bought and sold shares of the stock. State Street Corp increased its stake in Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after purchasing an additional 1,682,183 shares during the period. Geode Capital Management LLC increased its stake in shares of Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after buying an additional 234,048 shares during the period. Merewether Investment Management LP increased its stake in shares of Viper Energy by 22.9% during the third quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after buying an additional 160,600 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Viper Energy by 11.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after buying an additional 66,222 shares during the period. Finally, Yaupon Capital Management LP purchased a new position in shares of Viper Energy during the third quarter valued at approximately $18,044,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VNOM has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 target price on the stock. Evercore ISI boosted their target price on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research note on Friday, December 13th. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Finally, Truist Financial dropped their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Trading Down 3.7 %

Viper Energy stock opened at $48.33 on Friday. 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 business’s fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $49.40. Viper Energy, Inc. has a 12 month low of $34.45 and a 12 month high of $56.76. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 20.74 and a beta of 1.71.

Viper Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a $0.65 dividend. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 6th. Viper Energy’s payout ratio is 51.50%.

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.