Viper Energy (NASDAQ:VNOM) Stock Price Up 2.3% – Here’s What Happened

Viper Energy, Inc. (NASDAQ:VNOM) shares rose 2.3% during mid-day trading on Monday . The company traded as high as $45.18 and last traded at $45.20. Approximately 149,079 shares changed hands during trading, a decline of 88% from the average daily volume of 1,231,538 shares. The stock had previously closed at $44.19.

Analyst Ratings Changes

A number of brokerages have issued reports on VNOM. Evercore ISI lifted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Raymond James reissued an “outperform” rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Truist Financial decreased their price objective on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a report on Monday, March 3rd. Finally, Barclays upped their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.77.

Viper Energy Price Performance

The stock’s fifty day simple moving average is $46.53 and its 200 day simple moving average is $49.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm has a market capitalization of $9.64 billion, a P/E ratio of 19.36 and a beta of 1.69.

Viper Energy Increases Dividend

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

Hedge Funds Weigh In On Viper Energy

Several hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Viper Energy in the fourth quarter worth $25,000. Quarry LP acquired a new position in shares of Viper Energy in the 4th quarter valued at $32,000. Assetmark Inc. raised its stake in shares of Viper Energy by 321.7% in the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 518 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Viper Energy by 43.9% in 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 period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Viper Energy in the 4th quarter valued at about $55,000. Institutional investors and hedge funds 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.