Viper Energy’s (VNOM) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Viper Energy (NASDAQ:VNOM) in a research note published on Friday morning,Weiss Ratings reports.

VNOM has been the topic of a number of other research reports. Jefferies Financial Group began coverage on Viper Energy in a research report on Thursday. They issued a “hold” rating and a $38.00 target price on the stock. Mizuho cut their price objective on Viper Energy from $55.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. KeyCorp lowered their target price on Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Piper Sandler lifted their target price on Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Raymond James Financial reissued an “outperform” rating and set a $57.00 price target (down previously from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.07.

Viper Energy Trading Down 2.0%

NASDAQ VNOM opened at $37.26 on Friday. 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 $10.75 billion, a P/E ratio of 10.77, a PEG ratio of 16.41 and a beta of 0.92. The firm’s 50-day moving average is $38.16 and its two-hundred day moving average is $39.00. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.35 million. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, sell-side analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently declared 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 of this dividend was Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. Viper Energy’s dividend payout ratio (DPR) is currently 38.15%.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Viper Energy by 48.2% during the first quarter. GAMMA Investing LLC now owns 2,017 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 656 shares during the period. State of Alaska Department of Revenue increased its position in shares of Viper Energy by 31.0% in the 1st quarter. State of Alaska Department of Revenue now owns 15,385 shares of the oil and gas producer’s stock valued at $694,000 after purchasing an additional 3,640 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Viper Energy by 100.0% in the 1st 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. Highland Capital Management LLC purchased a new stake in shares of Viper Energy during the 1st quarter worth $290,000. Finally, Amalgamated Bank grew its stake in shares of Viper Energy by 21.3% during the first quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer’s stock worth $2,705,000 after purchasing an additional 10,529 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.