Wells Fargo & Company Forecasts Strong Price Appreciation for Viper Energy (NASDAQ:VNOM) Stock

Viper Energy (NASDAQ:VNOM - Free Report) had its price objective lifted by Wells Fargo & Company from $50.00 to $51.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer's stock.

Other research analysts have also issued reports about the company. Raymond James Financial reiterated an "outperform" rating and issued a $60.00 price objective (up from $54.00) on shares of Viper Energy in a research report on Thursday, June 5th. Barclays upped their price target on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Mizuho upped their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. KeyCorp decreased their price target on Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and an average target price of $57.46.

Viper Energy Price Performance

Shares of NASDAQ VNOM traded up $0.65 during mid-day trading on Thursday, reaching $38.71. The company's stock had a trading volume of 1,442,924 shares, compared to its average volume of 1,418,259. The firm has a market capitalization of $11.17 billion, a PE ratio of 10.19, a P/E/G ratio of 18.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70. The stock has a fifty day moving average of $39.79 and a two-hundred day moving average of $43.15. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same period last year, the business posted $0.49 EPS. As a group, sell-side analysts anticipate that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 3.10%. Viper Energy's dividend payout ratio (DPR) is 31.58%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Viper Energy during the fourth quarter worth approximately $32,000. UMB Bank n.a. increased its stake in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Viper Energy in the first quarter worth $34,000. AlphaQuest LLC bought a new position in shares of Viper Energy during the 1st quarter valued at $41,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds 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.