Viper Energy (NASDAQ:VNOM) Now Covered by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set an “overweight” rating and a $51.00 price target on the oil and gas producer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 17.78% from the company’s current price.

A number of other research analysts also recently commented on the company. KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research note on Friday, December 13th. Bank of America started coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price for the company. Evercore ISI upped their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Barclays lifted their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.00.

Viper Energy Price Performance

Viper Energy stock opened at $43.30 on Friday. The firm has a market cap of $9.23 billion, a PE ratio of 18.58 and a beta of 1.69. 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 stock’s fifty day moving average price is $47.70 and its two-hundred day moving average price is $49.18. Viper Energy has a one year low of $35.46 and a one year high of $56.76.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of Viper Energy in the 4th quarter worth approximately $95,505,000. State Street Corp raised its stake in Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after buying an additional 1,682,183 shares during the last quarter. Yaupon Capital Management LP acquired a new position in Viper Energy in the third quarter valued at $18,044,000. Freestone Grove Partners LP bought a new stake in Viper Energy during the fourth quarter valued at $19,469,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Viper Energy by 20.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer’s stock worth $113,324,000 after acquiring an additional 389,473 shares during the period. 87.72% of the stock is 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.