Viper Energy, Inc. (NASDAQ:VNOM) Given Consensus Recommendation of “Buy” by Brokerages

Viper Energy, Inc. (NASDAQ:VNOM) has received an average rating of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $60.00.

Several research firms recently weighed in on VNOM. Evercore ISI raised their price objective on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Truist Financial raised their price target on shares of Viper Energy from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James lifted their price target on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 17th.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $49.70 on Thursday. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 12-month low of $30.33 and a 12-month high of $56.76. The company’s 50 day moving average price is $51.11 and its two-hundred day moving average price is $48.33. The firm has a market cap of $9.36 billion, a PE ratio of 21.33 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the prior year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. Equities research analysts predict that Viper Energy will post 2.01 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.41%. Viper Energy’s payout ratio is presently 51.50%.

Institutional Trading of Viper Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted 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 valued at $172,918,000 after buying an additional 1,682,183 shares in the last quarter. Yaupon Capital Management LP acquired a new position in Viper Energy during the 3rd quarter valued at about $18,044,000. Retirement Systems of Alabama bought a new stake in Viper Energy during the 3rd quarter worth approximately $12,980,000. Zimmer Partners LP raised its stake in shares of Viper Energy by 344.0% in the third quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after purchasing an additional 251,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Viper Energy by 16.0% in the third 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 in the last quarter. 87.72% of the stock is owned by institutional investors.

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.