Viper Energy, Inc. (NASDAQ:VNOM) Receives $59.73 Average PT from Brokerages

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Twelve analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $59.00.

Several analysts recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $58.00 price target (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. 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 raised their price objective 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. KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered their target price on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th.

Viper Energy Price Performance

Shares of VNOM stock opened at $45.37 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy has a fifty-two week low of $35.46 and a fifty-two week high of $56.76. The firm has a market cap of $9.67 billion, a P/E ratio of 19.47 and a beta of 1.69. The business’s 50 day moving average price is $47.24 and its 200-day moving average price is $49.08.

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 $0.65 dividend. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 6th. Viper Energy’s payout ratio is 32.70%.

Hedge Funds Weigh In On Viper Energy

Several institutional investors and hedge funds have recently modified their holdings of VNOM. Farther Finance Advisors LLC grew its position in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 450 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Viper Energy by 3,200.2% during the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock valued at $10,615,000 after buying an additional 228,177 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Viper Energy by 72.2% during the third quarter. Apollon Wealth Management LLC now owns 14,707 shares of the oil and gas producer’s stock valued at $663,000 after acquiring an additional 6,168 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Viper Energy by 233.0% in the 3rd quarter. Victory Capital Management Inc. now owns 95,892 shares of the oil and gas producer’s stock worth $4,326,000 after acquiring an additional 67,098 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Viper Energy by 8.3% in the 3rd quarter. Empowered Funds LLC now owns 98,372 shares of the oil and gas producer’s stock valued at $4,438,000 after acquiring an additional 7,542 shares in the last quarter. 87.72% of the stock is currently owned by 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.