Wells Fargo & Company Lowers Viper Energy (NASDAQ:VNOM) Price Target to $48.00

Viper Energy (NASDAQ:VNOM) had its target price decreased by Wells Fargo & Company from $51.00 to $48.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on VNOM. Truist Financial reduced their price objective on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a research report on Monday, March 3rd. Raymond James reiterated an “outperform” rating and issued a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Finally, Evercore ISI increased 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.92.

Viper Energy Price Performance

VNOM opened at $39.56 on Monday. The firm has a market capitalization of $8.43 billion, a P/E ratio of 16.98 and a beta of 1.23. The stock has a fifty day moving average of $43.31 and a 200-day moving average of $48.29. 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 has a 12-month low of $34.71 and a 12-month high of $56.76.

Viper Energy Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.65 per share. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is 32.70%.

Institutional Investors Weigh In On Viper Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Golden State Wealth Management LLC bought a new position in Viper Energy during the 4th quarter worth about $25,000. Quarry LP bought a new position in shares of Viper Energy during the fourth quarter worth about $32,000. Assetmark Inc. grew its holdings in shares of Viper Energy by 321.7% during the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 518 shares in the last quarter. First Horizon Advisors Inc. raised its position in Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 414 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

About Viper Energy

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.