Pictet Asset Management Holding SA Trims Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Pictet Asset Management Holding SA lessened its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,313 shares of the oil and gas producer’s stock after selling 300 shares during the period. Pictet Asset Management Holding SA’s holdings in Viper Energy were worth $261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Viper Energy by 4,836.9% in the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock worth $3,365,000 after purchasing an additional 73,085 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Viper Energy during the third quarter valued at $283,000. State Street Corp grew its position in 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 buying an additional 1,682,183 shares in the last quarter. National Bank of Canada FI increased its stake in Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Viper Energy by 5.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 37,125 shares of the oil and gas producer’s stock valued at $1,675,000 after acquiring an additional 2,073 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Down 7.9 %

VNOM opened at $36.50 on Friday. Viper Energy, Inc. has a 12 month low of $34.71 and a 12 month 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 business’s 50-day moving average price is $44.81 and its 200-day moving average price is $48.64. The company has a market cap of $7.78 billion, a P/E ratio of 15.67 and a beta of 1.23.

Viper Energy Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $0.65 dividend. This is a boost from Viper Energy’s previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy’s payout ratio is 32.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VNOM. Truist Financial cut their price objective on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday, February 3rd. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. lowered their price objective on shares of Viper Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday. Mizuho started coverage on shares of Viper Energy in a report on Monday, March 31st. They set an “outperform” rating and a $56.00 price objective for the company. Finally, Barclays increased their target price on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $58.62.

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.