Analysts Set Viper Energy, Inc. (NASDAQ:VNOM) Price Target at $59.73

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have been assigned an average recommendation of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.00.

A number of research firms have issued reports on VNOM. JPMorgan Chase & Co. cut their price objective on shares of Viper Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore ISI lifted their price objective on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a report on Friday, December 13th. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a report on Monday, March 3rd. Finally, Barclays lifted their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd.

Institutional Investors Weigh In On Viper Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. Farther Finance Advisors LLC raised its stake in Viper Energy by 328.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the period. Principal Financial Group Inc. raised its stake in Viper Energy by 3,200.2% in the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock valued at $10,615,000 after acquiring an additional 228,177 shares during the period. Apollon Wealth Management LLC increased its position in shares of Viper Energy by 72.2% during the third quarter. Apollon Wealth Management LLC now owns 14,707 shares of the oil and gas producer’s stock valued at $663,000 after buying an additional 6,168 shares during the period. Victory Capital Management Inc. increased its position in shares of Viper Energy by 233.0% during the third quarter. Victory Capital Management Inc. now owns 95,892 shares of the oil and gas producer’s stock valued at $4,326,000 after buying an additional 67,098 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Viper Energy by 8.3% during the third quarter. Empowered Funds LLC now owns 98,372 shares of the oil and gas producer’s stock valued at $4,438,000 after buying an additional 7,542 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

VNOM opened at $43.30 on Friday. 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 capitalization of $9.23 billion, a price-to-earnings ratio of 18.58 and a beta of 1.69. The firm’s fifty day moving average price is $47.70 and its two-hundred day moving average price is $49.19. Viper Energy has a 1 year low of $35.46 and a 1 year high of $56.76.

Viper Energy Increases Dividend

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

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.