Viper Energy (NASDAQ:VNOM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Viper Energy (NASDAQ:VNOM) from a sell rating to a hold rating in a report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler upped their target price on Viper Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Morgan Stanley decreased their price objective on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Barclays lowered their target price on shares of Viper Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. William Blair assumed coverage on shares of Viper Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. Finally, Mizuho lowered their price target on Viper Energy from $55.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $55.21.

Viper Energy Trading Up 1.1%

Viper Energy stock opened at $36.74 on Friday. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The company’s fifty day moving average price is $38.22 and its two-hundred day moving average price is $39.00. 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 company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 15.81 and a beta of 0.92.

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

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a dividend yield of 5.8%. Viper Energy’s payout ratio is presently 38.15%.

Institutional Investors Weigh In On Viper Energy

Institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new position in Viper Energy in the 2nd quarter valued at approximately $27,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Viper Energy during the 1st quarter worth approximately $34,000. AlphaQuest LLC bought a new stake in shares of Viper Energy during the first quarter valued at approximately $41,000. Assetmark Inc. raised its stake in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 350 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Viper Energy by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 500 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.