Analysts Set Viper Energy, Inc. (NASDAQ:VNOM) Price Target at $59.55

Viper Energy, Inc. (NASDAQ:VNOM) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $59.55.

VNOM has been the topic of several recent research reports. Raymond James reiterated an “outperform” rating and issued a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Bank of America initiated coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. 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 note on Tuesday, December 17th. Finally, Barclays increased their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $48.33 on Monday. The firm’s 50 day moving average price is $49.36 and its 200-day moving average price is $49.40. Viper Energy has a twelve month low of $34.45 and a twelve month high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.30 billion, a PE ratio of 20.74 and a beta of 1.71.

Viper Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.65 per share. This is a positive change from Viper Energy’s previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy’s payout ratio is presently 51.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in Viper Energy during the fourth quarter worth $1,550,000. GTS Securities LLC boosted its stake in Viper Energy by 91.6% during the fourth quarter. GTS Securities LLC now owns 18,771 shares of the oil and gas producer’s stock worth $921,000 after buying an additional 8,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Viper Energy by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,652 shares of the oil and gas producer’s stock worth $8,178,000 after buying an additional 21,582 shares during the period. Woodline Partners LP boosted its stake in Viper Energy by 2.7% during the fourth quarter. Woodline Partners LP now owns 1,441,269 shares of the oil and gas producer’s stock worth $70,723,000 after buying an additional 37,340 shares during the period. Finally, SIR Capital Management L.P. boosted its stake in Viper Energy by 5.3% during the fourth quarter. SIR Capital Management L.P. now owns 427,410 shares of the oil and gas producer’s stock worth $20,973,000 after buying an additional 21,460 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.