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

Shares of Viper Energy Inc. (NASDAQ:VNOM) have earned an average recommendation of “Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $56.53.

A number of brokerages recently issued reports on VNOM. TD Cowen reissued a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. TD upped their target price on shares of Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their target price on shares of Viper Energy from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Friday, July 17th. Finally, Morgan Stanley dropped their price target on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th.

Hedge Funds Weigh In On Viper Energy

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Viper Energy by 34.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,431 shares of the oil and gas producer’s stock worth $257,000 after purchasing an additional 1,656 shares during the period. Farther Finance Advisors LLC increased its holdings in Viper Energy by 131.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 21,399 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 12,172 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Viper Energy in the third quarter valued at approximately $247,000. Envestnet Portfolio Solutions Inc. raised its position in Viper Energy by 57.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 23,573 shares of the oil and gas producer’s stock valued at $999,000 after purchasing an additional 8,642 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in Viper Energy in the second quarter valued at approximately $2,453,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Price Performance

VNOM stock opened at $43.37 on Friday. Viper Energy has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 333.64 and a beta of 0.50. The business has a fifty day moving average of $42.95 and a two-hundred day moving average of $44.49.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%. The company’s quarterly revenue was up 127.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, 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 disclosed a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $0.29 dividend. This represents a dividend yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s dividend payout ratio is currently 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.