The Manufacturers Life Insurance Company Has $3.67 Million Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

The Manufacturers Life Insurance Company boosted its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,819 shares of the oil and gas producer’s stock after purchasing an additional 4,041 shares during the period. The Manufacturers Life Insurance Company’s holdings in Viper Energy were worth $3,671,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Viper Energy in the fourth quarter valued at $25,000. Quarry LP bought a new stake in Viper Energy during the fourth quarter worth $32,000. Assetmark Inc. lifted its stake in Viper Energy by 321.7% in the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 518 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 214 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Viper Energy during the 4th quarter worth about $55,000. 87.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler reduced their price target on Viper Energy from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. KeyCorp reduced their target price on Viper Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Barclays dropped their price target on Viper Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Viper Energy from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.31.

Viper Energy Trading Up 3.9 %

Shares of VNOM stock opened at $40.89 on Friday. The stock has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $47.41. Viper Energy, Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market cap of $8.71 billion, a P/E ratio of 17.55 and a beta of 1.05.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $233.99 million. During the same quarter last year, the business earned $0.49 earnings per share. On average, research analysts predict that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, May 15th. Viper Energy’s dividend payout ratio (DPR) is presently 31.58%.

Viper Energy Company 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.