Tcfg Wealth Management LLC Decreases Position in Viper Energy, Inc. (NASDAQ:VNOM)

Tcfg Wealth Management LLC trimmed its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 15.7% during the fourth quarter, Holdings Channel reports. The firm owned 35,055 shares of the oil and gas producer’s stock after selling 6,550 shares during the quarter. Viper Energy comprises approximately 0.9% of Tcfg Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Tcfg Wealth Management LLC’s holdings in Viper Energy were worth $1,720,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Viper Energy by 6.4% during the fourth quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer’s stock worth $13,165,000 after purchasing an additional 16,172 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Viper Energy by 8.3% in the fourth quarter. New York State Teachers Retirement System now owns 23,604 shares of the oil and gas producer’s stock valued at $1,158,000 after acquiring an additional 1,800 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Viper Energy in the fourth quarter valued at $3,804,000. Louisiana State Employees Retirement System lifted its position in shares of Viper Energy by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the oil and gas producer’s stock valued at $1,403,000 after acquiring an additional 500 shares in the last quarter. Finally, Savant Capital LLC lifted its position in shares of Viper Energy by 2.1% in the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer’s stock valued at $706,000 after acquiring an additional 293 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $49.41 on Friday. Viper Energy, Inc. has a 12 month low of $33.03 and a 12 month high of $56.76. The business has a 50-day moving average of $49.41 and a two-hundred day moving average of $49.21. 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 firm has a market capitalization of $10.53 billion, a PE ratio of 21.21 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. Stockholders of record on Thursday, March 6th will be given 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 dividend payout ratio is presently 51.50%.

Analysts Set New Price Targets

Several analysts have recently issued reports on VNOM shares. Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research report on Friday, December 13th. The Goldman Sachs Group assumed coverage on Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price for the company. Finally, Raymond James reiterated an “outperform” rating and issued a $58.00 target price (down from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.55.

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.