Viper Energy (NASDAQ:VNOM) Price Target Lowered to $51.00 at JPMorgan Chase & Co.

Viper Energy (NASDAQ:VNOM) had its target price reduced by JPMorgan Chase & Co. from $56.00 to $51.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group set a $72.00 price target on shares of Viper Energy in a research note on Monday, March 3rd. Barclays boosted their price target 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. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price target for the company. Piper Sandler decreased their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $43.30 on Thursday. The company has a fifty day simple moving average of $47.70 and a two-hundred day simple moving average of $49.18. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 18.58 and a beta of 1.69. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 52 week low of $35.46 and a 52 week high of $56.76.

Viper Energy Increases Dividend

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

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Viper Energy by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer’s stock valued at $495,360,000 after acquiring an additional 239,404 shares during the last quarter. FIL Ltd lifted its position in Viper Energy by 8.5% in the fourth quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer’s stock valued at $194,520,000 after acquiring an additional 310,890 shares during the last quarter. State Street Corp lifted its position in Viper Energy by 78.2% in 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 acquiring an additional 1,682,183 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted 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 valued at $113,324,000 after acquiring an additional 389,473 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Viper Energy in the fourth quarter valued at $95,505,000. 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.