Viper Energy (NASDAQ:VNOM) Hits New 12-Month Low – What’s Next?

Viper Energy, Inc. (NASDAQ:VNOM)’s stock price reached a new 52-week low on Monday . The stock traded as low as $34.71 and last traded at $34.96, with a volume of 258151 shares trading hands. The stock had previously closed at $37.64.

Wall Street Analysts Forecast Growth

VNOM has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Raymond James reaffirmed an “outperform” rating and set a $58.00 price objective (down from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. Piper Sandler decreased their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Evercore ISI boosted 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. Finally, KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.77.

Viper Energy Stock Performance

The company has a market cap of $7.90 billion, a price-to-earnings ratio of 16.12 and a beta of 1.23. 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 fifty day simple moving average of $45.90 and a 200 day simple moving average of $49.04.

Viper Energy Increases Dividend

The company also recently announced 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 an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio (DPR) is 32.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Viper Energy by 10.4% in the fourth quarter. California State Teachers Retirement System now owns 96,293 shares of the oil and gas producer’s stock worth $4,725,000 after purchasing an additional 9,035 shares during the period. Park Square Financial Group LLC bought a new position in Viper Energy in the 4th quarter worth approximately $86,000. GF Fund Management CO. LTD. acquired a new position in shares of Viper Energy during the fourth quarter worth approximately $1,550,000. GTS Securities LLC boosted its position in shares of Viper Energy by 91.6% in the fourth quarter. GTS Securities LLC now owns 18,771 shares of the oil and gas producer’s stock valued at $921,000 after acquiring an additional 8,973 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Viper Energy by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,652 shares of the oil and gas producer’s stock valued at $8,178,000 after acquiring an additional 21,582 shares during the period. Institutional investors and hedge funds 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.