Wells Fargo & Company Lowers Viper Energy (NASDAQ:VNOM) Price Target to $48.00

Viper Energy (NASDAQ:VNOM) had its target price decreased by analysts at Wells Fargo & Company from $51.00 to $48.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.68% from the company’s current price.

VNOM has been the subject of several other research reports. The Goldman Sachs Group set a $72.00 price target on shares of Viper Energy in a research note on Monday, March 3rd. Evercore ISI raised their target price on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Truist Financial decreased their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on Viper Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.38.

Viper Energy Trading Down 1.4 %

Shares of NASDAQ VNOM traded down $0.58 during trading on Monday, hitting $40.79. 93,070 shares of the company were exchanged, compared to its average volume of 1,286,182. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy has a 12-month low of $34.71 and a 12-month high of $56.76. The company has a fifty day moving average price of $43.52 and a 200-day moving average price of $48.36. The firm has a market capitalization of $8.69 billion, a PE ratio of 17.48 and a beta of 1.23.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new stake in Viper Energy in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Viper Energy in the 4th quarter valued at approximately $32,000. Assetmark Inc. raised its holdings in shares of Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 518 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 414 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of 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 worth $34,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds 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.