Viper Energy (NASDAQ:VNOM) Price Target Lowered to $62.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price objective decreased by Piper Sandler from $63.00 to $62.00 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

A number of other research firms have also recently weighed in on VNOM. 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 report on Monday, February 3rd. Evercore ISI lifted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Raymond James restated an “outperform” rating and issued a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on Viper Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group set a $72.00 target price on Viper Energy in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Viper Energy Stock Performance

Shares of VNOM opened at $40.67 on Tuesday. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The stock has a market capitalization of $8.66 billion, a PE ratio of 17.46 and a beta of 1.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The stock has a 50-day simple moving average of $43.13 and a 200-day simple moving average of $48.24.

Viper Energy Increases Dividend

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

Hedge Funds Weigh In On Viper Energy

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Viper Energy during the 4th quarter worth approximately $95,505,000. Freestone Grove Partners LP purchased a new stake in Viper Energy during the fourth quarter worth approximately $19,469,000. T. Rowe Price Investment Management Inc. increased its position in shares of 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 worth $113,324,000 after acquiring an additional 389,473 shares in the last quarter. Invesco Ltd. raised its stake in shares of Viper Energy by 164.3% in the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer’s stock valued at $28,296,000 after acquiring an additional 358,487 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Viper Energy by 8.5% during the 4th 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 in the last quarter. 87.72% of the stock is currently 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.