Analysts Set Viper Energy Inc. (NASDAQ:VNOM) Target Price at $54.07

Shares of Viper Energy Inc. (NASDAQ:VNOM) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $54.0667.

Several analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. KeyCorp lowered their price target on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Piper Sandler upped their price target on shares of Viper Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company upped their price target on shares of Viper Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC lifted its holdings in Viper Energy by 1.4% in the 1st quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock valued at $816,000 after acquiring an additional 249 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Viper Energy by 4.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock valued at $260,000 after acquiring an additional 279 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Viper Energy by 16.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 337 shares during the last quarter. Assetmark Inc. lifted its stake in Viper Energy by 48.7% during the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 350 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Viper Energy by 9.7% during the second quarter. Parkside Financial Bank & Trust now owns 4,117 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 364 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Stock Down 0.2%

VNOM stock opened at $37.18 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. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76. The firm has a fifty day moving average price of $38.16 and a two-hundred day moving average price of $38.98. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 16.41 and a beta of 0.92.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.35 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. Research analysts predict that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy’s dividend payout ratio is presently 38.15%.

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.