Viper Energy Inc. (NASDAQ:VNOM) Stock Has Average Price Target of $56.53 According to Analysts

Viper Energy Inc. (NASDAQ:VNOM) has earned an average rating of “Buy” from the nineteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.50.

Several research firms have recently commented on VNOM. Seaport Research Partners began coverage on Viper Energy in a report on Thursday, September 3rd. They issued a “buy” rating and a $45.00 price target for the company. Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a report on Sunday. Roth Capital reaffirmed a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Zacks Research upgraded Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Johnson Rice assumed coverage on Viper Energy in a research report on Monday, August 3rd. They issued an “accumulate” rating and a $55.00 price objective for the company.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc lifted its stake in shares of Viper Energy by 1,250.0% in the second quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 875 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Viper Energy during the second quarter worth about $56,000. Parallel Advisors LLC grew its position in Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 322 shares during the period. Versant Capital Management Inc grew its position in Viper Energy by 20.0% during the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 413 shares during the period. Finally, Inspire Investing LLC acquired a new position in Viper Energy during the first quarter worth about $199,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Price Performance

Shares of VNOM opened at $44.13 on Friday. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13. The stock’s 50 day moving average is $43.05 and its two-hundred day moving average is $44.45. The firm has a market capitalization of $15.85 billion, a PE ratio of 21.96 and a beta of 0.50. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%. The firm’s quarterly revenue was up 127.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Research analysts anticipate that Viper Energy will post 2.72 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently announced a special dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $0.29 per share. This represents a dividend yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s payout ratio is presently 1,169.23%.

Viper Energy Company Profile

Viper Energy, Inc (NASDAQ: VNOM) is an oil and gas company that owns and acquires mineral, royalty and overriding royalty interests in properties operated primarily by other exploration and production companies. Its interests provide exposure to production from wells without requiring Viper to fund most drilling and completion activities.

The company’s assets are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s interests are associated mainly with oil and natural gas development and generate revenue from its share of production, while its broad and diversified ownership position spans numerous wells and acreage holdings.

Viper Energy was established as Viper Energy Partners and became a publicly traded master limited partnership in 2014.