Viper Energy (NASDAQ:VNOM) Trading 2.3% Higher – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VNOM. Mizuho began coverage on shares of Viper Energy in a research report on Monday. They set an “outperform” rating and a $56.00 price target for the company. Barclays raised their target price on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company began coverage on shares of Viper Energy in a research note on Friday, March 14th. They issued an “overweight” rating and a $51.00 price target for the company. 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 research note on Wednesday, January 8th. Finally, The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.77.

Viper Energy Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The firm has a market cap of $9.64 billion, a PE ratio of 19.36 and a beta of 1.69. The stock has a 50-day simple moving average of $46.53 and a two-hundred day simple moving average of $49.06.

Viper Energy Increases Dividend

The business also recently disclosed 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 an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date was Thursday, March 6th. Viper Energy’s dividend payout ratio is 32.70%.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Golden State Wealth Management LLC purchased a new position in shares of Viper Energy in the fourth quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of Viper Energy in the 4th quarter worth $32,000. Assetmark Inc. raised its holdings in Viper Energy by 321.7% in the 4th 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. First Horizon Advisors Inc. lifted its position in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 214 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Viper Energy during the fourth quarter valued at about $55,000. 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.