Viper Energy (NASDAQ:VNOM) Price Target Cut to $48.00 by Analysts at Wells Fargo & Company

Viper Energy (NASDAQ:VNOM - Free Report) had its target price cut by Wells Fargo & Company from $51.00 to $48.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas producer's stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research report on Monday, March 3rd. Mizuho started coverage on shares of Viper Energy in a research note on Monday, March 31st. They issued an "outperform" rating and a $56.00 price target for the company. 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. Evercore ISI upped their target price on shares of Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Finally, Truist Financial lowered 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.15.

Viper Energy Stock Up 0.8 %

NASDAQ VNOM traded up $0.34 during midday trading on Monday, hitting $40.76. 53,655 shares of the company traded hands, compared to its average volume of 1,288,872. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76. The company's 50-day simple moving average is $42.95 and its 200-day simple moving average is $48.18. 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 company has a market cap of $8.68 billion, a PE ratio of 17.39 and a beta of 1.23.

Viper Energy Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid 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 dividend payout ratio (DPR) is 32.70%.

Institutional Trading of Viper Energy

A number of institutional investors have recently bought and sold shares of VNOM. Golden State Wealth Management LLC purchased a new position in Viper Energy during the fourth quarter worth about $25,000. Quarry LP purchased a new position in shares of Viper Energy during the 4th quarter valued at approximately $32,000. Assetmark Inc. grew its holdings in Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 518 shares in the last quarter. UMB Bank n.a. increased its holdings in Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 414 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of 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 valued at $34,000 after acquiring an additional 214 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.