JPMorgan Chase & Co. Cuts Viper Energy (NASDAQ:VNOM) Price Target to $49.00

Viper Energy (NASDAQ:VNOM) had its target price lowered by JPMorgan Chase & Co. from $51.00 to $49.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company initiated coverage on Viper Energy in a research report on Friday, March 14th. They issued an “overweight” rating and a $51.00 price target for the company. KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a report on Friday, December 13th. Truist Financial decreased their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays raised 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. Finally, Piper Sandler reduced their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $58.62.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $37.58 on Thursday. The firm has a fifty day simple moving average of $44.59 and a two-hundred day simple moving average of $48.57. Viper Energy has a 52 week low of $34.71 and a 52 week 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 $8.01 billion, a P/E ratio of 16.13 and a beta of 1.23.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.65 per share. This is a boost from Viper Energy’s previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy’s dividend payout ratio is presently 32.70%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in shares of Viper Energy in the 4th quarter worth $25,000. Quarry LP bought a new position in Viper Energy in the fourth quarter worth about $32,000. Assetmark Inc. raised its holdings in Viper Energy by 321.7% in the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 518 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Viper Energy in the 4th quarter valued at about $55,000. Institutional investors own 87.72% of the company’s stock.

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.