StockNews.com Downgrades Viper Energy (NASDAQ:VNOM) to Sell

StockNews.com cut shares of Viper Energy (NASDAQ:VNOM) from a hold rating to a sell rating in a report released on Monday.

VNOM has been the topic of several other reports. The Goldman Sachs Group started coverage on Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target on the stock. Barclays increased their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Truist Financial reduced their price objective on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Finally, Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Price Performance

NASDAQ VNOM opened at $50.01 on Monday. The business’s fifty day moving average price is $49.93 and its 200-day moving average price is $48.82. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 21.46 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy has a 1-year low of $31.18 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, equities analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $0.65 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is presently 51.50%.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors have recently bought and sold shares of VNOM. The Manufacturers Life Insurance Company increased its stake in Viper Energy by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,497 shares of the oil and gas producer’s stock worth $507,000 after buying an additional 1,006 shares in the last quarter. Algert Global LLC purchased a new position in shares of Viper Energy during the second quarter valued at about $305,000. Truist Financial Corp grew its position in shares of Viper Energy by 4.5% during the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock valued at $421,000 after purchasing an additional 488 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Viper Energy during the second quarter valued at about $1,663,000. Finally, GAMMA Investing LLC grew its position in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.