Viper Energy (NASDAQ:VNOM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Viper Energy (NASDAQ:VNOM) from a hold rating to a buy rating in a research report released on Monday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on VNOM. Citigroup cut their price objective on shares of Viper Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Roth Capital reaffirmed a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Morgan Stanley lifted their target price on shares of Viper Energy from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Barclays decreased their target price on shares of Viper Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Finally, Scotiabank initiated coverage on shares of Viper Energy in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $54.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $56.56.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $45.68 on Monday. The business has a 50 day moving average of $43.37 and a 200 day moving average of $44.39. The company has a market capitalization of $16.41 billion, a price-to-earnings ratio of 22.70 and a beta of 0.50. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The business’s quarterly revenue was up 127.9% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. On average, sell-side analysts predict that Viper Energy will post 2.76 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

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

Hedge Funds Weigh In On Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR grew its position in shares of Viper Energy by 1.8% in the 1st quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer’s stock worth $645,000 after buying an additional 245 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Viper Energy by 1.2% during the first quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer’s stock valued at $1,027,000 after buying an additional 268 shares during the period. Arizona State Retirement System increased its stake in shares of Viper Energy by 0.6% during the second quarter. Arizona State Retirement System now owns 52,276 shares of the oil and gas producer’s stock valued at $2,217,000 after buying an additional 312 shares during the period. Parallel Advisors LLC increased its stake in shares of 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 valued at $64,000 after buying an additional 322 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in shares of Viper Energy by 1.8% during the first quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer’s stock valued at $988,000 after acquiring an additional 368 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Company Profile

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.