Mizuho Issues Pessimistic Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target reduced by Mizuho from $56.00 to $54.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

Several other research firms also recently issued reports on VNOM. Wells Fargo & Company reduced their price target on Viper Energy from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Piper Sandler reduced their price target on Viper Energy from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI restated an “outperform” rating and issued a $49.00 price target on shares of Viper Energy in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $43.18 on Tuesday. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The stock has a 50 day moving average of $41.46 and a 200-day moving average of $47.16. The company has a market capitalization of $9.20 billion, a P/E ratio of 18.53 and a beta of 1.05.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities research analysts predict that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 2.78%. Viper Energy’s dividend payout ratio is presently 31.58%.

Hedge Funds Weigh In On Viper Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Viper Energy by 103.3% during the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer’s stock worth $1,982,000 after buying an additional 22,334 shares in the last quarter. Franklin Resources Inc. acquired a new position in Viper Energy in the 3rd quarter worth about $3,037,000. Principal Financial Group Inc. increased its holdings in Viper Energy by 3,200.2% in the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock worth $10,615,000 after purchasing an additional 228,177 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Viper Energy by 423.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,515 shares of the oil and gas producer’s stock worth $7,557,000 after purchasing an additional 135,513 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Viper Energy in the 4th quarter worth about $265,000. 87.72% of the stock is owned by institutional investors and hedge funds.

About Viper Energy

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.