Viper Energy (NASDAQ:VNOM) Trading Up 5.7% – Time to Buy?

Viper Energy, Inc. (NASDAQ:VNOM)’s stock price was up 5.7% during trading on Thursday . The stock traded as high as $41.54 and last traded at $41.30. Approximately 321,278 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,276,194 shares. The stock had previously closed at $39.08.

Wall Street Analysts Forecast Growth

VNOM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Viper Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Mizuho began coverage on Viper Energy in a report on Monday, March 31st. They issued an “outperform” rating and a $56.00 target price on the stock. StockNews.com raised Viper Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company began coverage on Viper Energy in a research note on Friday, March 14th. They issued an “overweight” rating and a $51.00 price objective on the stock. Finally, Evercore ISI lifted their target price on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.62.

Viper Energy Trading Up 7.6 %

The company has a market cap of $8.96 billion, a P/E ratio of 18.06 and a beta of 1.23. The firm’s 50 day moving average is $43.90 and its two-hundred day moving average is $48.42. 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 business also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given 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 32.70%.

Hedge Funds Weigh In On Viper Energy

A number of hedge funds have recently made changes to their positions in the stock. Tcfg Wealth Management LLC increased its position in Viper Energy by 15.5% during the 1st quarter. Tcfg Wealth Management LLC now owns 40,485 shares of the oil and gas producer’s stock valued at $1,828,000 after purchasing an additional 5,430 shares during the period. Defined Financial Planning LLC bought a new stake in shares of Viper Energy in the 1st quarter valued at $264,000. CX Institutional acquired a new stake in shares of Viper Energy during the first quarter worth $235,000. GAMMA Investing LLC lifted its holdings in Viper Energy by 48.2% in the first quarter. GAMMA Investing LLC now owns 2,017 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 656 shares during the period. Finally, Requisite Capital Management LLC lifted its holdings in Viper Energy by 12.4% in the first quarter. Requisite Capital Management LLC now owns 47,355 shares of the oil and gas producer’s stock valued at $2,138,000 after buying an additional 5,214 shares during the period. 87.72% of the stock is currently owned by institutional investors.

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.