JPMorgan Chase & Co. Cuts Viper Energy (NASDAQ:VNOM) Price Target to $47.00

Viper Energy (NASDAQ:VNOM) had its price objective decreased by JPMorgan Chase & Co. from $49.00 to $47.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

A number of other brokerages also recently commented on VNOM. The Goldman Sachs Group set a $72.00 price objective on Viper Energy in a research report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Viper Energy from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. KeyCorp decreased their price objective on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Raymond James set a $52.00 price target on shares of Viper Energy in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.31.

Viper Energy Price Performance

Viper Energy stock opened at $40.56 on Wednesday. The firm has a fifty day moving average of $41.44 and a 200-day moving average of $47.33. The firm has a market capitalization of $8.64 billion, a P/E ratio of 17.41 and a beta of 1.05. 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 52-week low of $34.71 and a 52-week high of $56.76.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $233.99 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. As a group, analysts predict that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, May 15th. Viper Energy’s payout ratio is currently 31.58%.

Hedge Funds Weigh In On Viper Energy

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

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.