Viper Energy (NASDAQ:VNOM) Shares Down 4.2% – Here’s What Happened

Viper Energy, Inc. (NASDAQ:VNOM) dropped 4.2% during trading on Wednesday . The company traded as low as $43.15 and last traded at $43.02. Approximately 113,032 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,221,640 shares. The stock had previously closed at $44.90.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VNOM shares. Evercore ISI increased their price target on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Raymond James restated an “outperform” rating and set a $58.00 price target (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. Piper Sandler dropped their price target on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group began coverage on Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. Finally, KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Price Performance

The stock has a market cap of $8.95 billion, a P/E ratio of 18.04 and a beta of 1.71. 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 business’s 50-day simple moving average is $48.62 and its two-hundred day simple moving average is $49.40.

Viper Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $0.65 dividend. 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 currently 32.70%.

Institutional Investors Weigh In On Viper Energy

Several institutional investors have recently made changes to their positions in VNOM. First Horizon Advisors Inc. grew its position in shares of Viper Energy by 43.9% in the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 214 shares in the last quarter. American Century Companies Inc. grew its holdings in Viper Energy by 1.1% during the 4th quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer’s stock valued at $1,243,000 after buying an additional 268 shares in the last quarter. Savant Capital LLC increased its position in shares of Viper Energy by 2.1% during the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer’s stock valued at $706,000 after buying an additional 293 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Viper Energy by 2.5% in the fourth quarter. Andina Capital Management LLC now owns 12,924 shares of the oil and gas producer’s stock worth $634,000 after buying an additional 312 shares in the last quarter. Finally, Fulcrum Equity Management boosted its position in shares of Viper Energy by 4.1% in the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.