Viper Energy (NASDAQ:VNOM) Price Target Lowered to $51.00 at JPMorgan Chase & Co.

Viper Energy (NASDAQ:VNOM - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $56.00 to $51.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer's stock.

A number of other equities research analysts have also commented on VNOM. StockNews.com upgraded Viper Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. KeyCorp upgraded Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. Truist Financial decreased their price target on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Barclays increased their price target on Viper Energy from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an "outperform" rating and issued a $58.00 price objective (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.00.

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Viper Energy Price Performance

NASDAQ VNOM traded up $0.48 during trading hours on Thursday, reaching $43.78. 262,423 shares of the company's stock were exchanged, compared to its average volume of 1,185,056. The stock has a market cap of $9.33 billion, a PE ratio of 18.79 and a beta of 1.69. Viper Energy has a one year low of $35.46 and a one year high of $56.76. The firm has a fifty day moving average of $47.70 and a 200-day moving average of $49.19. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $0.65 dividend. 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 currently 32.70%.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock worth $26,000 after buying an additional 450 shares during the last quarter. Principal Financial Group Inc. boosted 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 worth $10,615,000 after acquiring an additional 228,177 shares during the period. Apollon Wealth Management LLC boosted its holdings 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 worth $663,000 after acquiring an additional 6,168 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Viper Energy by 233.0% during the third 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 period. Finally, Empowered Funds LLC boosted its holdings in shares of Viper Energy by 8.3% during the third quarter. Empowered Funds LLC now owns 98,372 shares of the oil and gas producer's stock worth $4,438,000 after acquiring an additional 7,542 shares during the period. Institutional investors and hedge funds own 87.72% of the company's stock.

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.