Viper Energy Inc. (NASDAQ:VNOM) Receives $56.93 Consensus PT from Analysts

by · The Markets Daily

Shares of Viper Energy Inc. (NASDAQ:VNOM – Get Free Report) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $56.9333.

A number of research analysts have commented on the stock. TD Cowen restated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. TD upped their price objective on Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Mizuho decreased their price target on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th.

View Our Latest Report on VNOM

Viper Energy Trading Down 0.6%

Shares of VNOM stock opened at $42.93 on Tuesday. The firm has a fifty day moving average of $43.80 and a 200-day moving average of $44.99. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 330.26 and a beta of 0.39. Viper Energy has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM – Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm’s revenue was up 127.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. On average, equities research analysts forecast that Viper Energy will post 2.74 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a dividend yield of 281.0%. Viper Energy’s dividend payout ratio is presently 1,169.23%.

Hedge Funds Weigh In On Viper Energy

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Viper Energy by 24.0% in the first quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock valued at $37,373,000 after acquiring an additional 154,032 shares during the last quarter. GW&K Investment Management LLC bought a new stake in Viper Energy during the 4th quarter worth approximately $42,550,000. Royal Bank of Canada increased its holdings in Viper Energy by 37.1% during the 1st quarter. Royal Bank of Canada now owns 370,040 shares of the oil and gas producer’s stock valued at $17,387,000 after purchasing an additional 100,193 shares in the last quarter. Swiss National Bank increased its holdings in Viper Energy by 12.4% during the 1st quarter. Swiss National Bank now owns 375,116 shares of the oil and gas producer’s stock valued at $17,627,000 after purchasing an additional 41,300 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Viper Energy in the 1st quarter valued at $1,783,000. 87.72% of the stock is owned by institutional investors.

About Viper Energy

(Get Free Report)

Viper Energy, Inc (NASDAQ:VNOM) is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.

Viper’s asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.

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