Wells Fargo & Company Initiates Coverage on Viper Energy (NASDAQ:VNOM)

Stock analysts at Wells Fargo & Company initiated coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $51.00 price target on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.78% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Viper Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday. Bank of America began coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective for the company. 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. Barclays raised their price target on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and an average target price of $59.00.

Viper Energy Stock Up 4.4 %

NASDAQ:VNOM opened at $43.30 on Friday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 18.58 and a beta of 1.69. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $47.70 and a two-hundred day moving average price of $49.18. Viper Energy has a 1 year low of $35.46 and a 1 year high of $56.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VNOM. Golden State Wealth Management LLC acquired a new stake in Viper Energy during the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its holdings in 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 worth $26,000 after purchasing an additional 450 shares during the last quarter. Quarry LP bought a new stake in Viper Energy in the 4th quarter valued at $32,000. Assetmark Inc. grew 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 valued at $33,000 after buying an additional 518 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Viper Energy by 43.9% during the 4th 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 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.