Massachusetts Financial Services Co. MA Cuts Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Massachusetts Financial Services Co. MA trimmed its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,001,065 shares of the oil and gas producer’s stock after selling 84,776 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Viper Energy were worth $90,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VNOM. New York State Teachers Retirement System purchased a new stake in shares of Viper Energy during the third quarter valued at approximately $984,000. Sei Investments Co. lifted its position in Viper Energy by 81.9% in the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after acquiring an additional 20,396 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Viper Energy in the 2nd quarter worth $616,000. Vanguard Group Inc. raised its stake in shares of Viper Energy by 23.3% in the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after purchasing an additional 582,247 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on VNOM. Raymond James lifted their price objective on Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com cut shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Barclays raised their target price on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler lifted their target price on shares of Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Truist Financial increased their price target on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.75.

Viper Energy Stock Up 3.4 %

Shares of VNOM stock opened at $56.55 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. Viper Energy, Inc. has a 12 month low of $29.03 and a 12 month high of $56.63. The stock has a market cap of $10.65 billion, a P/E ratio of 24.27 and a beta of 1.72. The company has a 50 day simple moving average of $50.52 and a two-hundred day simple moving average of $44.33.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. On average, research analysts expect that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. Viper Energy’s payout ratio is currently 51.50%.

Viper Energy Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.