Pacific Heights Asset Management LLC Has $12.27 Million Position in Viper Energy, Inc. (NASDAQ:VNOM)

Pacific Heights Asset Management LLC boosted its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 42.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the oil and gas producer’s stock after purchasing an additional 75,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.13% of Viper Energy worth $12,268,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Viper Energy in the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 450 shares during the last quarter. Assetmark Inc. raised its stake in shares of Viper Energy by 321.7% during 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. grew its holdings 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 valued at $34,000 after purchasing an additional 214 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Viper Energy by 524.8% in the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 1,165 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on VNOM shares. Raymond James restated an “outperform” rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price on the stock. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Friday, December 13th. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Truist Financial dropped their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Stock Performance

Shares of VNOM opened at $41.48 on Friday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 17.80 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy, Inc. has a 1 year low of $34.45 and a 1 year high of $56.76. The firm has a fifty day moving average of $48.62 and a 200-day moving average of $49.40.

Viper Energy Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio (DPR) is 32.70%.

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.