Viper Energy (NASDAQ:VNOM) Price Target Raised to $58.00

Viper Energy (NASDAQ:VNOM) had its price objective lifted by Evercore ISI from $45.00 to $58.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas producer’s stock.

A number of other analysts have also weighed in on the stock. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Viper Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. Raymond James boosted their target price on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Truist Financial raised their price target on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Securities upped their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.36.

Viper Energy Price Performance

Shares of VNOM opened at $49.65 on Wednesday. The company has a market cap of $9.35 billion, a P/E ratio of 21.31 and a beta of 1.73. Viper Energy has a fifty-two week low of $30.21 and a fifty-two week high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average price is $51.52 and its 200 day moving average price is $47.58.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, research analysts forecast that Viper Energy will post 2.01 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.42%. Viper Energy’s payout ratio is 51.50%.

Institutional Investors Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in Viper Energy by 328.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 450 shares during the period. GAMMA Investing LLC raised its position in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares during the last quarter. National Bank of Canada FI increased its position in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,165 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Viper Energy in the fourth quarter worth $94,000. Finally, Plato Investment Management Ltd raised its holdings in shares of Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other 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.