Viper Energy (NASDAQ:VNOM) Trading 5.7% Higher - Still a Buy?

Shares of Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) were up 5.7% during trading on Thursday . The company traded as high as $41.54 and last traded at $41.30. Approximately 321,278 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,276,194 shares. The stock had previously closed at $39.08.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial decreased 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 report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on Viper Energy from $51.00 to $49.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Barclays upped their target price on Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Mizuho began coverage on shares of Viper Energy in a research report on Monday, March 31st. They set an "outperform" rating and a $56.00 price target for the company. Finally, Raymond James reaffirmed an "outperform" rating and issued a $58.00 price target (down from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.85.

Viper Energy Price Performance

The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 17.46 and a beta of 1.23. The company's fifty day moving average price is $43.31 and its 200 day moving average price is $48.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

Viper Energy Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. Golden State Wealth Management LLC bought a new stake in Viper Energy in the fourth quarter valued at $25,000. Quarry LP acquired a new stake in shares of Viper Energy in the 4th quarter worth about $32,000. Assetmark Inc. lifted its position in Viper Energy by 321.7% in the 4th 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 last quarter. UMB Bank n.a. boosted its stake in Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Company Profile

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.