Viper Energy (NASDAQ:VNOM) Now Covered by Mizuho

Mizuho assumed coverage on shares of Viper Energy (NASDAQ:VNOM - Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $56.00 price target on the oil and gas producer's stock. Mizuho's target price suggests a potential upside of 34.74% from the company's current price.

VNOM has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Barclays raised their target price on Viper Energy from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a research note on Monday, March 3rd. Piper Sandler lowered their price objective on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company began coverage on Viper Energy in a research note on Friday, March 14th. They issued an "overweight" rating and a $51.00 target price on the stock. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Viper Energy presently has an average rating of "Moderate Buy" and a consensus target price of $58.77.

Viper Energy Price Performance

NASDAQ:VNOM traded down $4.38 during trading hours on Monday, reaching $41.56. 1,470,469 shares of the company's stock were exchanged, compared to its average volume of 1,241,786. 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 12 month low of $35.46 and a 12 month high of $56.76. The company has a market capitalization of $8.85 billion, a P/E ratio of 17.84 and a beta of 1.69. The business's 50-day simple moving average is $46.24 and its two-hundred day simple moving average is $49.07.

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Institutional Trading of Viper Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Viper Energy by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer's stock valued at $495,360,000 after buying an additional 239,404 shares during the period. FIL Ltd grew its holdings in shares of Viper Energy by 8.5% during the 4th quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer's stock worth $194,520,000 after purchasing an additional 310,890 shares in the last quarter. State Street Corp increased its position in shares of Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer's stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Viper Energy by 20.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer's stock valued at $113,324,000 after purchasing an additional 389,473 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Viper Energy in the fourth quarter valued at $95,505,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.