Viper Energy, Inc. (NASDAQ:VNOM) Receives $58.77 Consensus Price Target from Brokerages

Shares of Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) have been assigned an average recommendation of "Buy" from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $58.62.

VNOM has been the subject of a number of analyst reports. Raymond James reissued an "outperform" rating and set a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Wells Fargo & Company began coverage on shares of Viper Energy in a report on Friday, March 14th. They set an "overweight" rating and a $51.00 target price for the company. Evercore ISI upped their price target on Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. KeyCorp upgraded 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, Mizuho assumed coverage on shares of Viper Energy in a research report on Monday, March 31st. They issued an "outperform" rating and a $56.00 target price for the company.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Viper Energy in the fourth quarter valued at about $95,505,000. State Street Corp grew its position in 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 buying an additional 1,682,183 shares during the period. Freestone Grove Partners LP purchased a new stake in Viper Energy during the fourth quarter valued at approximately $19,469,000. T. Rowe Price Investment Management Inc. raised its position in 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 worth $113,324,000 after acquiring an additional 389,473 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Viper Energy by 164.3% during the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock worth $28,296,000 after acquiring an additional 358,487 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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Viper Energy Stock Performance

Shares of NASDAQ VNOM traded up $1.08 during mid-day trading on Tuesday, reaching $37.58. 1,277,775 shares of the company's stock were exchanged, compared to its average volume of 1,278,934. The firm has a 50-day moving average price of $44.59 and a two-hundred day moving average price of $48.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 16.13 and a beta of 1.23. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.65 per share. This is a boost from Viper Energy's previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy's payout ratio is presently 32.70%.

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.