Analysts Set Viper Energy, Inc. (NASDAQ:VNOM) PT at $59.73

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have been given an average rating of “Buy” by the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $59.00.

Several brokerages have recently commented on VNOM. Piper Sandler cut their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Evercore ISI boosted their price objective on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Bank of America began coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective for the company. 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. Finally, Raymond James reissued an “outperform” rating and set a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th.

Viper Energy Trading Up 4.4 %

Shares of VNOM opened at $43.30 on Friday. The business’s 50-day moving average price is $47.70 and its 200-day moving average price is $49.19. Viper Energy has a twelve month low of $35.46 and a twelve month high of $56.76. The stock has a market cap of $9.23 billion, a PE ratio of 18.58 and a beta of 1.69. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy Increases Dividend

The company also recently announced 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 was Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is currently 32.70%.

Institutional Trading of Viper Energy

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Viper Energy by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer’s stock valued at $495,360,000 after purchasing an additional 239,404 shares during the period. FIL Ltd boosted its stake in shares of Viper Energy by 8.5% during the fourth quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer’s stock valued at $194,520,000 after purchasing an additional 310,890 shares during the period. State Street Corp boosted its stake in shares of 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 valued at $172,918,000 after purchasing an additional 1,682,183 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Viper Energy by 20.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer’s stock valued at $113,324,000 after purchasing an additional 389,473 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Viper Energy during the fourth quarter valued at approximately $95,505,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.