Viper Energy (NASDAQ:VNOM) Price Target Cut to $48.00 by Analysts at Wells Fargo & Company

Viper Energy (NASDAQ:VNOM - Free Report) had its price objective trimmed by Wells Fargo & Company from $51.00 to $48.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer's stock.

Several other equities analysts have also recently weighed in on VNOM. StockNews.com upgraded Viper Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on Viper Energy from $51.00 to $49.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Truist Financial reduced their price objective on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and set a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. Finally, Barclays raised their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.15.

Viper Energy Stock Performance

VNOM traded up $0.58 on Monday, hitting $41.58. The company's stock had a trading volume of 495,924 shares, compared to its average volume of 1,294,901. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The firm has a market cap of $8.86 billion, a P/E ratio of 17.85 and a beta of 1.23. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The company's 50 day simple moving average is $42.60 and its 200-day simple moving average is $48.05.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Viper Energy's previous dividend of $0.22. Viper Energy's dividend payout ratio (DPR) is presently 32.70%.

Institutional Trading of Viper Energy

Several institutional investors have recently added to or reduced their stakes in VNOM. Golden State Wealth Management LLC purchased a new stake in Viper Energy during the 4th quarter valued at about $25,000. Quarry LP purchased a new stake in shares of Viper Energy during the fourth quarter valued at approximately $32,000. Assetmark Inc. boosted its stake 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 valued at $33,000 after purchasing an additional 518 shares during the period. UMB Bank n.a. grew its holdings 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 purchasing an additional 414 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Viper Energy by 43.9% in the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after buying an additional 214 shares during the period. 87.72% of the stock is currently 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.