Viper Energy (NASDAQ:VNOM) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Viper Energy (NASDAQ:VNOM) from a sell rating to a hold rating in a report published on Sunday morning.

A number of other research firms have also issued reports on VNOM. Bank of America lowered their target price on Viper Energy from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Piper Sandler lowered their target price on Viper Energy from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Mizuho lifted their target price on Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Barclays lifted their target price on Viper Energy from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Finally, Evercore ISI lifted their target price on Viper Energy from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Viper Energy Price Performance

Shares of VNOM opened at $38.25 on Friday. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 18.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.70 and a current ratio of 8.70. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The stock’s fifty day moving average is $40.63 and its 200-day moving average is $44.13.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same period last year, the company earned $0.49 earnings per share. Equities analysts anticipate that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.14%. Viper Energy’s dividend payout ratio (DPR) is 31.58%.

Hedge Funds Weigh In On Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC boosted its position in shares of Viper Energy by 22.7% in the 1st quarter. Voya Investment Management LLC now owns 27,234 shares of the oil and gas producer’s stock valued at $1,230,000 after purchasing an additional 5,041 shares during the period. Hodges Capital Management Inc. acquired a new stake in Viper Energy during the 1st quarter worth about $1,351,000. Strs Ohio acquired a new stake in Viper Energy during the 1st quarter worth about $1,623,000. WBI Investments LLC acquired a new stake in Viper Energy during the 1st quarter worth about $2,531,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Viper Energy by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after acquiring an additional 37,847 shares during the period. 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.