Viper Energy Inc. (NASDAQ:VNOM – Get Free Report)’s share price was down 5.1% during trading on Wednesday . The stock traded as low as $43.71 and last traded at $43.6160. 210,641 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,242,163 shares. The stock had previously closed at $45.96.
Analysts Set New Price Targets
VNOM has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Mizuho lowered their price target on Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Raymond James Financial set a $57.00 price objective on Viper Energy in a research note on Friday, July 31st. Finally, Royal Bank Of Canada assumed coverage on shares of Viper Energy in a report on Friday, May 29th. They set an “outperform” rating and a $58.00 price objective on the stock. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.93.
Check Out Our Latest Stock Analysis on VNOM
Viper Energy Stock Performance
Viper Energy (NASDAQ:VNOM – Get Free Report) last released its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.Viper Energy’s quarterly revenue was up 127.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, sell-side analysts expect that Viper Energy Inc. will post 2.74 EPS for the current fiscal year.
Viper Energy Announces Dividend
The firm also recently disclosed a special dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $0.29 dividend. This represents a yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s dividend payout ratio is 1,169.23%.
Institutional Investors Weigh In On Viper Energy
Large investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its holdings in shares of Viper Energy by 1,250.0% in the 2nd quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 875 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Viper Energy during the second quarter worth about $56,000. Parallel Advisors LLC raised its position in Viper Energy by 31.2% in the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 322 shares during the period. Clearstead Advisors LLC raised its position in Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after acquiring an additional 654 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Viper Energy by 20.0% in the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 413 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.
Viper Energy Company Profile
Viper Energy, Inc (NASDAQ:VNOM) is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.
Viper’s asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.
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