Viper Energy (NASDAQ:VNOM – Free Report) had its price target upped by Truist Financial from $53.00 to $54.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.
A number of other brokerages also recently issued reports on VNOM. Citigroup cut their target price on Viper Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research note on Thursday, October 15th. Royal Bank Of Canada upped their price objective on Viper Energy from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Wall Street Zen cut Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Oppenheimer downgraded Viper Energy from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.41.
Check Out Our Latest Stock Analysis on Viper Energy
Viper Energy Stock Performance
Shares of Viper Energy stock traded up $0.92 on Wednesday, reaching $40.62. 3,202,963 shares of the stock were exchanged, compared to its average volume of 2,017,277. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $44.41. The firm has a market capitalization of $14.59 billion, a PE ratio of 29.65 and a beta of 0.49.
Viper Energy (NASDAQ:VNOM – Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Viper Energy had a net margin of 12.08% and a return on equity of 4.26%. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $625.18 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue was up 58.1% compared to the same quarter last year. As a group, research analysts anticipate that Viper Energy will post 2.92 earnings per share for the current fiscal year.
Viper Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 12th. Viper Energy’s payout ratio is 110.95%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Viper Energy by 13.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock valued at $57,485,000 after purchasing an additional 145,221 shares in the last quarter. Recurrent Investment Advisors LLC lifted its stake in shares of Viper Energy by 36.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock worth $46,488,000 after purchasing an additional 266,703 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Viper Energy during the 1st quarter worth $37,464,000. Bank of America Corp DE boosted its holdings in shares of Viper Energy by 24.0% during the first quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock worth $37,373,000 after purchasing an additional 154,032 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Viper Energy by 56.3% during the first quarter. Pacer Advisors Inc. now owns 615,920 shares of the oil and gas producer’s stock worth $28,942,000 after purchasing an additional 221,853 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
About Viper Energy
Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.
Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.
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