Viper Energy (NASDAQ:VNOM) Price Target Raised to $52.00
by Sarita Garza · The Markets DailyViper Energy (NASDAQ:VNOM – Free Report) had its price objective increased by Wells Fargo & Company from $51.00 to $52.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.
A number of other analysts have also recently commented on VNOM. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. TD Securities lifted their price objective on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Mizuho boosted their price objective on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Barclays reduced their target price on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $51.79.
Read Our Latest Analysis on Viper Energy
Viper Energy Stock Performance
Shares of NASDAQ VNOM opened at $47.14 on Monday. The firm’s 50-day moving average price is $42.41 and its 200-day moving average price is $39.54. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The company has a market cap of $16.85 billion, a PE ratio of -204.95, a PEG ratio of 1.56 and a beta of 0.48. Viper Energy has a 52-week low of $34.71 and a 52-week high of $48.00.
Viper Energy (NASDAQ:VNOM – Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.51 million. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.Viper Energy’s revenue was up 87.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. As a group, analysts anticipate that Viper Energy will post 2.02 EPS for the current year.
Viper Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. This is an increase from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 5th. Viper Energy’s dividend payout ratio (DPR) is -660.87%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of VNOM. Financial Gravity Companies Inc. bought a new position in Viper Energy in the 2nd quarter valued at $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of Viper Energy during the fourth quarter valued at $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Viper Energy during the third quarter valued at $31,000. Ameriflex Group Inc. bought a new position in shares of Viper Energy in the third quarter worth about $38,000. Finally, CoreCap Advisors LLC grew its holdings in shares of Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 906 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.
About Viper Energy
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.