Viper Energy (NASDAQ:VNOM) Reaches New 12-Month Low - Here's What Happened

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $34.71 and last traded at $34.96, with a volume of 258151 shares. The stock had previously closed at $37.64.

Analysts Set New Price Targets

Several analysts recently issued reports on VNOM shares. Barclays boosted their price target on Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research report on Monday, March 3rd. Raymond James reaffirmed an "outperform" rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. Truist Financial cut their price objective on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler lowered their target price on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Viper Energy currently has a consensus rating of "Moderate Buy" and an average target price of $58.62.

Viper Energy Stock Performance

The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market cap of $8.01 billion, a P/E ratio of 16.13 and a beta of 1.23. The company has a 50 day moving average price of $44.59 and a 200-day moving average price of $48.57.

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Viper Energy Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Viper Energy during the 4th quarter worth approximately $95,505,000. State Street Corp lifted its stake in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer's stock valued at $172,918,000 after acquiring an additional 1,682,183 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Viper Energy during the 4th quarter valued at $19,469,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Viper Energy by 20.3% during 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, Invesco Ltd. grew its holdings in shares of Viper Energy by 164.3% during the fourth quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock worth $28,296,000 after purchasing an additional 358,487 shares during the last quarter. Institutional investors 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.