TD Securities Cuts Viper Energy (NASDAQ:VNOM) Price Target to $56.00

Viper Energy (NASDAQ:VNOM) had its target price lowered by TD Securities from $58.00 to $56.00 in a report released on Tuesday morning, MarketBeat Ratings reports. TD Securities currently has a buy rating on the oil and gas producer’s stock.

Several other research analysts have also recently weighed in on VNOM. William Blair initiated coverage on Viper Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Evercore ISI increased their price objective on Viper Energy from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Morgan Stanley initiated coverage on Viper Energy in a report on Monday, August 18th. They set an “overweight” rating and a $46.00 target price on the stock. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Raymond James Financial reissued an “outperform” rating and set a $57.00 target price (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $55.27.

Viper Energy Stock Down 1.7%

VNOM stock opened at $38.06 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 17.31 and a beta of 0.92. The business’s fifty day moving average price is $38.28 and its two-hundred day moving average price is $39.64. Viper Energy has a fifty-two week low of $34.71 and a fifty-two week high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The company’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. On average, equities analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.53 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.6%. Viper Energy’s dividend payout ratio (DPR) is currently 38.15%.

Hedge Funds Weigh In On Viper Energy

Several large investors have recently bought and sold shares of VNOM. Financial Gravity Companies Inc. bought a new position in shares of Viper Energy during the second quarter worth about $27,000. UMB Bank n.a. raised its position in shares of Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Viper Energy during the first quarter worth about $34,000. AlphaQuest LLC bought a new position in shares of Viper Energy during the first quarter worth about $41,000. Finally, Assetmark Inc. raised its position in shares of Viper Energy by 48.7% during the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 350 shares during the last quarter. 87.72% of the stock is currently 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.