PNC Financial Services Group Inc. Sells 3,000 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

PNC Financial Services Group Inc. trimmed its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,125 shares of the oil and gas producer’s stock after selling 3,000 shares during the period. PNC Financial Services Group Inc.’s holdings in Viper Energy were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after acquiring an additional 1,682,183 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Viper Energy during the fourth quarter worth $95,505,000. Geode Capital Management LLC lifted its position 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 worth $76,647,000 after acquiring an additional 234,048 shares in the last quarter. Merewether Investment Management LP lifted its position 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 worth $38,822,000 after acquiring an additional 160,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Viper Energy by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 632,568 shares of the oil and gas producer’s stock worth $31,040,000 after acquiring an additional 7,307 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VNOM. Piper Sandler dropped their target price on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Wells Fargo & Company assumed coverage on Viper Energy in a research report on Friday, March 14th. They issued an “overweight” rating and a $51.00 price objective on the stock. Barclays increased their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial lowered their price objective 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. Finally, StockNews.com upgraded Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Viper Energy Trading Up 3.2 %

NASDAQ VNOM opened at $45.20 on Thursday. The stock’s 50-day simple moving average is $47.34 and its two-hundred day simple moving average is $49.10. Viper Energy, Inc. has a twelve month low of $35.46 and a twelve month high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 19.40 and a beta of 1.69.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid 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 (DPR) is 32.70%.

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.