Viper Energy (NASDAQ:VNOM) Given New $49.00 Price Target at JPMorgan Chase & Co.

Viper Energy (NASDAQ:VNOM) had its price objective decreased by JPMorgan Chase & Co. from $51.00 to $49.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages have also issued reports on VNOM. Raymond James reaffirmed an “outperform” rating and issued a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Truist Financial cut their price objective 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. Mizuho started coverage on shares of Viper Energy in a research report on Monday, March 31st. They issued an “outperform” rating and a $56.00 target price on the stock. 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 research report on Friday, December 13th. Finally, Evercore ISI raised 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 analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.62.

Viper Energy Price Performance

VNOM opened at $36.50 on Thursday. 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 stock has a market capitalization of $7.78 billion, a P/E ratio of 15.67 and a beta of 1.23. The stock has a 50-day moving average price of $44.81 and a 200-day moving average price of $48.64. Viper Energy has a 12-month low of $34.71 and a 12-month high of $56.76.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Viper Energy’s previous dividend of $0.22. Viper Energy’s payout ratio is 32.70%.

Institutional Trading of Viper Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VNOM. Vanguard Group Inc. raised its holdings in Viper Energy by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer’s stock worth $495,360,000 after purchasing an additional 239,404 shares in the last quarter. FIL Ltd increased its position in shares of Viper Energy by 8.5% during the fourth quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer’s stock valued at $194,520,000 after buying an additional 310,890 shares during the period. State Street Corp raised its stake in Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after buying an additional 1,682,183 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in 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 buying an additional 389,473 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Viper Energy in the fourth quarter worth about $95,505,000. Hedge funds and other 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.