TD Cuts Viper Energy (NASDAQ:VNOM) Price Target to $58.00

Viper Energy (NASDAQ:VNOMFree Report) had its price target trimmed by TD from $59.00 to $58.00 in a report published on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also commented on the company. Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Wells Fargo & Company boosted their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Raymond James Financial upped their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Zacks Research cut shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Morgan Stanley cut their target price on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.57.

Get Our Latest Analysis on Viper Energy

Viper Energy Price Performance

Shares of Viper Energy stock opened at $45.14 on Wednesday. The company’s fifty day simple moving average is $44.29 and its two-hundred day simple moving average is $44.28. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13. The firm has a market cap of $16.21 billion, a PE ratio of -141.06 and a beta of 0.40. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOMGet Free Report) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 108.6% compared to the same quarter last year. As a group, equities analysts expect that Viper Energy will post 2.42 EPS for the current year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. Viper Energy’s dividend payout ratio is -475.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in Viper Energy in the 4th quarter worth approximately $27,000. Parallel Advisors LLC raised its position in Viper Energy by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 322 shares during the last quarter. UMB Bank n.a. purchased a new position in Viper Energy in the 4th quarter worth about $64,000. Nisa Investment Advisors LLC lifted its stake in Viper Energy by 256.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock valued at $69,000 after acquiring an additional 1,291 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in Viper Energy by 50.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 654 shares during the period. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Viper Energy (NASDAQ:VNOM)

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