Viper Energy, Inc. (NASDAQ:VNOM) Given Consensus Recommendation of “Buy” by Analysts

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have earned an average recommendation of “Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.55.

Several research analysts have recently commented on VNOM shares. Barclays raised their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Bank of America started coverage on Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective on the stock. The Goldman Sachs Group started coverage on Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 target price on the stock. Finally, Truist Financial decreased their target price on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd.

Viper Energy Stock Down 3.7 %

NASDAQ VNOM opened at $48.33 on Monday. The stock’s 50-day moving average price is $49.30 and its 200-day moving average price is $49.50. 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 $34.45 and a 52 week high of $56.76. The company has a market capitalization of $10.30 billion, a P/E 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 $0.65 dividend. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 6th. Viper Energy’s payout ratio is presently 51.50%.

Institutional Trading of Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Raymond James Financial Inc. bought a new stake in Viper Energy in the 4th quarter worth approximately $95,505,000. State Street Corp boosted its holdings in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after purchasing an additional 1,682,183 shares during the period. Yaupon Capital Management LP purchased a new position in shares of Viper Energy in the 3rd quarter worth approximately $18,044,000. Freestone Grove Partners LP purchased a new position in shares of Viper Energy in the 4th quarter worth approximately $19,469,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Viper Energy by 20.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer’s stock worth $113,324,000 after purchasing an additional 389,473 shares during the period. 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.