Truist Financial Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its target price lifted by Truist Financial from $64.00 to $71.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group started coverage on shares of Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Friday, December 13th. Roth Mkm lifted their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Viper Energy Stock Up 2.3 %

Shares of NASDAQ VNOM opened at $50.81 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy has a 52-week low of $30.21 and a 52-week high of $56.76. The company’s 50 day moving average price is $51.47 and its 200-day moving average price is $47.82. The company has a market capitalization of $9.57 billion, a P/E ratio of 21.81 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 net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the previous year, the company earned $1.10 EPS. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. Equities analysts forecast that Viper Energy will post 2.01 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s payout ratio is 51.50%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after buying an additional 1,682,183 shares during the period. Massachusetts Financial Services Co. MA increased its position in Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after purchasing an additional 224,021 shares during the period. Geode Capital Management LLC increased its position in Viper Energy by 16.0% during 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 period. Merewether Investment Management LP increased its position in Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after purchasing an additional 160,600 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Viper Energy by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after purchasing an additional 66,222 shares during the period. 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.