Viper Energy Inc. (NASDAQ:VNOM – Get Free Report) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $58.1538.
A number of brokerages have recently commented on VNOM. Mizuho boosted their target price on shares of Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Roth Capital reiterated a “buy” rating and issued a $54.00 price target on shares of Viper Energy in a research note on Tuesday, May 5th. Truist Financial set a $58.00 price target on shares of Viper Energy in a research report on Wednesday, May 6th. Zacks Research lowered shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Citigroup upped their price objective on shares of Viper Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st.
Check Out Our Latest Analysis on VNOM
Viper Energy Stock Up 3.3%
Viper Energy (NASDAQ:VNOM – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts anticipate that Viper Energy will post 2.46 EPS for the current fiscal year.
Viper Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $0.38 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. Viper Energy’s dividend payout ratio is presently -475.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors grew its stake in shares of Viper Energy by 4.0% in the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after acquiring an additional 493,203 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the last quarter. Oaktree Capital Management LP bought a new position in Viper Energy in the 3rd quarter worth about $240,215,000. Adage Capital Partners GP L.L.C. boosted its stake in Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after purchasing an additional 1,024,838 shares in the last quarter. Finally, State Street Corp increased its stake in Viper Energy by 2.9% during the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after purchasing an additional 148,503 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.
Viper Energy Company Profile
Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.
The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.
Featured Articles
- Five stocks we like better than Viper Energy
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Receive News & Ratings for Viper Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viper Energy and related companies with MarketBeat.com's FREE daily email newsletter.
