State of Tennessee Department of Treasury Sells 1,028 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

State of Tennessee Department of Treasury trimmed its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,442 shares of the oil and gas producer’s stock after selling 1,028 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Viper Energy were worth $1,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in shares of Viper Energy in the fourth quarter worth about $25,000. Assetmark Inc. raised its position 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 last quarter. First Horizon Advisors Inc. lifted its holdings in Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 214 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Viper Energy in the 4th quarter valued at $55,000. Finally, Covestor Ltd raised its position in shares of Viper Energy by 8,100.0% during the fourth quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of NASDAQ VNOM opened at $41.70 on Wednesday. The company has a fifty day moving average price of $42.27 and a 200 day moving average price of $47.90. The firm has a market cap of $8.88 billion, a PE ratio of 17.90 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. Viper Energy, Inc. has a 1-year low of $34.71 and a 1-year high of $56.76.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued 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 dividend payout ratio is presently 32.70%.

Analyst Ratings Changes

Several research analysts have recently issued reports on VNOM shares. Wells Fargo & Company reduced their target price on shares of Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Truist Financial lowered their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Mizuho began coverage on Viper Energy in a research note on Monday, March 31st. They issued an “outperform” rating and a $56.00 price target on the stock. Barclays decreased their price objective on Viper Energy from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com raised Viper Energy from a “sell” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.15.

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.