Massachusetts Financial Services Co. MA Sells 84,776 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Massachusetts Financial Services Co. MA lowered its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,001,065 shares of the oil and gas producer’s stock after selling 84,776 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.13% of Viper Energy worth $90,268,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sei Investments Co. raised its holdings in Viper Energy by 81.9% during the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after acquiring an additional 20,396 shares during the period. Vanguard Group Inc. raised its stake in shares of Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after purchasing an additional 1,603,333 shares during the period. Axxcess Wealth Management LLC purchased a new stake in Viper Energy during the 1st quarter worth about $232,000. 1832 Asset Management L.P. bought a new position in Viper Energy in the 1st quarter worth about $4,884,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Viper Energy during the 1st quarter valued at about $601,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VNOM shares. Roth Mkm increased their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Truist Financial increased their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Raymond James boosted their price target on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, TD Securities boosted their target price on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.75.

Viper Energy Price Performance

Shares of VNOM stock opened at $56.55 on Friday. The firm has a market cap of $10.65 billion, a P/E ratio of 24.27 and a beta of 1.72. The business’s 50 day moving average price is $50.52 and its 200-day moving average price is $44.33. Viper Energy, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $56.63. 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 (NASDAQ:VNOM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the prior year, the business earned $1.10 EPS. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, equities research analysts anticipate that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio is currently 51.50%.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.