Truist Financial Corp Sells 97,100 Shares of Viper Energy Inc. $VNOM

Truist Financial Corp cut its position in Viper Energy Inc. (NASDAQ:VNOM) by 88.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,397 shares of the oil and gas producer’s stock after selling 97,100 shares during the quarter. Truist Financial Corp’s holdings in Viper Energy were worth $474,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in Viper Energy in the 2nd quarter worth about $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Viper Energy during the third quarter worth about $31,000. Assetmark Inc. increased its stake in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after purchasing an additional 350 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Viper Energy by 82.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 534 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 0.3%

Viper Energy stock opened at $43.73 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $51.47. The stock has a market cap of $15.72 billion, a P/E ratio of 18.07, a PEG ratio of 27.71 and a beta of 0.51. The firm’s fifty day moving average price is $39.49 and its 200-day moving average price is $38.38.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VNOM. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Morgan Stanley cut their price target on Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Jefferies Financial Group started coverage on Viper Energy in a research note on Thursday, October 23rd. They set a “hold” rating and a $38.00 price objective on the stock. Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Finally, Mizuho lifted their target price on Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.71.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.