Viper Energy, Inc. (NASDAQ:VNOM – Free Report) – Zacks Research reduced their FY2024 earnings estimates for shares of Viper Energy in a note issued to investors on Tuesday, January 7th. Zacks Research analyst R. Department now forecasts that the oil and gas producer will earn $1.94 per share for the year, down from their prior forecast of $1.95. The consensus estimate for Viper Energy’s current full-year earnings is $2.01 per share.
Several other research firms also recently weighed in on VNOM. The Goldman Sachs Group assumed coverage on shares of Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Evercore ISI raised their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler decreased their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Bank of America began coverage on Viper Energy in a report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and a consensus target price of $59.36.
Viper Energy Price Performance
Shares of VNOM opened at $50.20 on Friday. The business’s fifty day moving average is $51.57 and its 200 day moving average is $47.49. Viper Energy has a 12-month low of $30.21 and a 12-month high of $56.76. 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 cap of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73.
Viper Energy (NASDAQ:VNOM – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share.
Institutional Investors Weigh In On Viper Energy
Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 450 shares during the last quarter. GAMMA Investing LLC increased its position in Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 460 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Viper Energy by 524.8% in the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,165 shares during the period. Versant Capital Management Inc purchased a new position in shares of Viper Energy during the 4th quarter valued at $94,000. Finally, Plato Investment Management Ltd grew its stake in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the period. 87.72% of the stock is currently owned by institutional investors.
Viper Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio is presently 51.50%.
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.
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