Viper Energy (NASDAQ:VNOM) Given New $61.00 Price Target at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price target trimmed by Piper Sandler from $62.00 to $61.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Evercore ISI reissued an “outperform” rating and set a $49.00 target price on shares of Viper Energy in a research report on Wednesday, May 7th. Raymond James set a $52.00 target price on shares of Viper Energy in a research report on Monday, April 21st. KeyCorp cut their price target on Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.08.

Viper Energy Stock Performance

Viper Energy stock opened at $43.18 on Tuesday. The business has a 50 day moving average of $41.46 and a 200-day moving average of $47.16. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. 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 released its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $0.49 earnings per share. On average, equities research analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

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

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of VNOM. Barclays PLC raised its position in Viper Energy by 103.3% in the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer’s stock valued at $1,982,000 after buying an additional 22,334 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Viper Energy in the 3rd quarter valued at $3,037,000. Principal Financial Group Inc. raised its position 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 valued at $10,615,000 after buying an additional 228,177 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $7,557,000 after buying an additional 135,513 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in Viper Energy in the 4th quarter valued at $265,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.