M&T Bank Corp Cuts Stake in Viper Energy, Inc. (NASDAQ:VNOM)

M&T Bank Corp lessened its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,733 shares of the oil and gas producer’s stock after selling 9,542 shares during the period. M&T Bank Corp’s holdings in Viper Energy were worth $2,342,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VNOM. State Street Corp grew its stake in Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after acquiring an additional 1,682,183 shares in the last quarter. Yaupon Capital Management LP purchased a new stake in Viper Energy during the 3rd quarter valued at about $18,044,000. Retirement Systems of Alabama purchased a new stake in Viper Energy during the 3rd quarter valued at about $12,980,000. Zimmer Partners LP grew its stake in Viper Energy by 344.0% during the 3rd quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock valued at $14,661,000 after acquiring an additional 251,800 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Viper Energy by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after acquiring an additional 234,048 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Barclays boosted their target price on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a report on Friday, December 13th. The Goldman Sachs Group started coverage on shares of Viper Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Truist Financial decreased their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Stock Performance

Shares of VNOM stock opened at $41.36 on Monday. The firm’s 50 day moving average price is $48.48 and its 200-day moving average price is $49.40. 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 one year low of $34.45 and a one year high of $56.76. The firm has a market cap of $8.81 billion, a P/E ratio of 17.75 and a beta of 1.69.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $0.65 dividend. This is a positive change from Viper Energy’s previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy’s dividend payout ratio is currently 32.70%.

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.