Viper Energy, Inc. (NASDAQ:VNOM) Given Average Rating of “Buy” by Brokerages

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have received an average rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $59.55.

A number of analysts have recently issued reports on VNOM shares. The Goldman Sachs Group started coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 target price for the company. Truist Financial lowered their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler lowered their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Bank of America started coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price for the company. Finally, KeyCorp upgraded 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.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Golden State Wealth Management LLC bought a new position in Viper Energy in the fourth quarter worth about $25,000. Farther Finance Advisors LLC grew its stake in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the last quarter. Quarry LP purchased a new stake in shares of Viper Energy during the fourth quarter worth about $32,000. Assetmark Inc. grew its stake in shares of Viper Energy by 321.7% during the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 518 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake 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 worth $34,000 after acquiring an additional 214 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Down 3.7 %

Shares of VNOM opened at $48.33 on Monday. The firm has a market capitalization of $10.30 billion, a P/E ratio of 20.74 and a beta of 1.71. Viper Energy has a 12-month low of $34.45 and a 12-month high of $56.76. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $49.36 and a 200-day moving average price of $49.40.

Viper Energy Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a $0.65 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s payout ratio is currently 51.50%.

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.