Analysts Set Viper Energy, Inc. (NASDAQ:VNOM) Target Price at $58.18

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have been given a consensus rating of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $58.18.

VNOM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial raised their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. TD Securities lifted their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Roth Mkm increased their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th.

Viper Energy Stock Performance

Shares of VNOM stock opened at $51.07 on Friday. Viper Energy has a 52-week low of $30.21 and a 52-week high of $56.76. The stock’s 50-day moving average price is $51.67 and its 200 day moving average price is $47.11. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $9.62 billion, a PE ratio of 21.92 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, equities research analysts forecast that Viper Energy will post 2.01 EPS for the current year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after buying an additional 1,682,183 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Viper Energy in the third quarter valued at $18,044,000. Retirement Systems of Alabama acquired a new stake in shares of Viper Energy during the third quarter valued at $12,980,000. Zimmer Partners LP increased its position in Viper Energy by 344.0% during the 3rd quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after purchasing an additional 251,800 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after purchasing an additional 234,048 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.