Viper Energy (NASDAQ:VNOM) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Viper Energy (NASDAQ:VNOM) in a research note published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $64.00 price objective on the oil and gas producer’s stock.

Several other brokerages have also recently commented on VNOM. StockNews.com cut shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. TD Securities upped their price target on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Barclays lifted their price objective on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Raymond James upped their target price on Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

Viper Energy Price Performance

Viper Energy stock opened at $54.26 on Tuesday. The firm has a market capitalization of $10.22 billion, a P/E ratio of 23.29 and a beta of 1.72. Viper Energy has a one year low of $29.03 and a one 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 business has a fifty day moving average price of $50.92 and a 200-day moving average price of $44.66.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, equities research analysts forecast that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 450 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares during the period. International Assets Investment Management LLC purchased a new stake in Viper Energy during the 2nd quarter valued at about $36,000. National Bank of Canada FI grew its position in Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Plato Investment Management Ltd increased its stake in Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the period. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.