Connor Clark & Lunn Investment Management Ltd. Has $416,000 Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,482 shares of the oil and gas producer’s stock after selling 17,996 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Viper Energy were worth $416,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VNOM. Miller Financial Services LLC bought a new position in Viper Energy in the 4th quarter valued at $245,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viper Energy by 43.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,351 shares of the oil and gas producer’s stock valued at $1,489,000 after acquiring an additional 9,122 shares during the last quarter. Pacific Heights Asset Management LLC boosted its holdings in Viper Energy by 42.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 250,000 shares of the oil and gas producer’s stock valued at $12,268,000 after acquiring an additional 75,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Viper Energy in the fourth quarter worth about $95,505,000. Finally, Arizona State Retirement System raised its holdings in Viper Energy by 12.9% during the 4th quarter. Arizona State Retirement System now owns 29,855 shares of the oil and gas producer’s stock worth $1,465,000 after purchasing an additional 3,401 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Trading Down 2.5 %

NASDAQ VNOM opened at $44.23 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The stock’s 50-day moving average is $47.13 and its 200-day moving average is $49.09. Viper Energy, Inc. has a one year low of $35.46 and a one year high of $56.76. The firm has a market cap of $9.42 billion, a P/E ratio of 18.98 and a beta of 1.69.

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. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s payout ratio is presently 32.70%.

Analyst Ratings Changes

VNOM has been the subject of several analyst reports. The Goldman Sachs Group set a $72.00 price target on shares of Viper Energy in a research report on Monday, March 3rd. Evercore ISI lifted their target price on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company started coverage on Viper Energy in a research note on Friday, March 14th. They issued an “overweight” rating and a $51.00 price target on the stock. StockNews.com upgraded Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Bank of America initiated coverage on Viper Energy in a report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Viper Energy has an average rating of “Moderate Buy” and an average price target of $59.00.

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.