Viper Energy (NASDAQ:VNOM) Shares Down 4.2% – Here’s Why

Shares of Viper Energy, Inc. (NASDAQ:VNOM) were down 4.2% during mid-day trading on Wednesday . The stock traded as low as $43.15 and last traded at $43.02. Approximately 113,032 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,221,640 shares. The stock had previously closed at $44.90.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VNOM. Evercore ISI lifted their price target on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research note on Friday, December 13th. Truist Financial reduced their price target on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Raymond James reissued an “outperform” rating and set a $58.00 target price (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.55.

Viper Energy Trading Down 5.4 %

The stock has a market cap of $9.05 billion, a PE ratio of 18.24 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $48.86 and a 200-day simple moving average of $49.50.

Viper Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $0.65 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio (DPR) is currently 32.70%.

Institutional Investors Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently modified their holdings of VNOM. Golden State Wealth Management LLC purchased a new position in Viper Energy during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its position in shares of Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 450 shares in the last quarter. Quarry LP purchased a new position in shares of Viper Energy during the 4th quarter valued at $32,000. Assetmark Inc. increased its holdings 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 period. Finally, First Horizon Advisors Inc. raised its position 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 buying an additional 214 shares in the last quarter. 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.