Viper Energy (NASDAQ:VNOM) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Viper Energy (NASDAQ:VNOM) in a report published on Friday, MarketBeat reports. The firm issued an overweight rating and a $51.00 price target on the oil and gas producer’s stock.

A number of other analysts have also commented on the company. 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 report on Friday, December 13th. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a report on Monday, March 3rd. JPMorgan Chase & Co. reduced their target price on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com upgraded Viper Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Viper Energy Stock Up 4.4 %

Shares of NASDAQ:VNOM opened at $43.30 on Friday. The firm has a market cap of $9.23 billion, a P/E ratio of 18.58 and a beta of 1.69. 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 12-month low of $35.46 and a 12-month high of $56.76. The business has a fifty day simple moving average of $47.70 and a 200 day simple moving average of $49.19.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $0.65 dividend. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is currently 32.70%.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased 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 acquiring an additional 214 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Viper Energy by 1.1% in the fourth quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer’s stock valued at $1,243,000 after purchasing an additional 268 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Viper Energy by 2.1% in the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer’s stock valued at $706,000 after purchasing an additional 293 shares in the last quarter. Andina Capital Management LLC grew 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 valued at $634,000 after purchasing an additional 312 shares in the last quarter. Finally, Fulcrum Equity Management grew its holdings 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 purchasing an additional 375 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.