JPMorgan Chase & Co. Issues Pessimistic Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

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

VNOM has been the subject of several other reports. Piper Sandler reduced their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a research note on Monday, March 3rd. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company began coverage on shares of Viper Energy in a research report on Friday, March 14th. They set an “overweight” rating and a $51.00 price target for the company. Finally, Evercore ISI boosted their price objective 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.62.

Viper Energy Stock Down 7.9 %

VNOM stock opened at $36.50 on Thursday. The business has a 50 day moving average of $44.81 and a 200 day moving average of $48.64. The firm has a market cap of $7.78 billion, a PE ratio of 15.67 and a beta of 1.23. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. 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 Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VNOM. FMR LLC grew its stake in shares of Viper Energy by 4,836.9% during the 3rd quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock valued at $3,365,000 after purchasing an additional 73,085 shares during the period. Geode Capital Management LLC grew its position in Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after buying an additional 234,048 shares during the period. Retirement Systems of Alabama bought a new stake in Viper Energy during the third quarter valued at approximately $12,980,000. Principal Financial Group Inc. raised its position in Viper Energy by 3,200.2% in the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock worth $10,615,000 after acquiring an additional 228,177 shares during the period. Finally, Barclays PLC raised its position in Viper Energy by 103.3% in the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer’s stock worth $1,982,000 after acquiring an additional 22,334 shares during the period. Institutional investors own 87.72% of the company’s stock.

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.