Viper Energy (NASDAQ:VNOM) Now Covered by Wells Fargo & Company

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

Several other research firms also recently weighed in on VNOM. Bank of America started coverage on shares of Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price for the company. Raymond James reiterated an “outperform” rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. 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 report on Wednesday, January 8th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a report on Friday, December 13th. Finally, Piper Sandler lowered their price target on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Viper Energy Stock Up 4.4 %

VNOM stock opened at $43.30 on Friday. The company has a fifty day moving average of $47.70 and a 200-day moving average of $49.19. 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 market capitalization of $9.23 billion, a PE ratio of 18.58 and a beta of 1.69. Viper Energy has a one year low of $35.46 and a one year high of $56.76.

Viper Energy Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $0.65 dividend. This is a boost 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

Hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Viper Energy during the fourth quarter worth about $25,000. Farther Finance Advisors LLC raised its position in Viper Energy by 328.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 450 shares during the last quarter. Quarry LP acquired a new stake in Viper Energy in the 4th quarter valued at approximately $32,000. Assetmark Inc. raised its position in Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 518 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 214 shares during the last quarter. 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.