Viper Energy Inc. (NASDAQ:VNOM) Receives $56.93 Consensus Target Price from Brokerages

Shares of Viper Energy Inc. (NASDAQ:VNOM) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $56.9333.

Several analysts recently weighed in on the company. Roth Capital restated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Wall Street Zen downgraded Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Barclays cut their price target on Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Wells Fargo & Company increased their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Mizuho reduced their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th.

Institutional Trading of Viper Energy

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Viper Energy by 38.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after buying an additional 13,218 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after buying an additional 174,684 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Viper Energy by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock valued at $9,233,000 after buying an additional 37,847 shares during the period. Prudential Financial Inc. grew its position in Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock worth $487,000 after buying an additional 3,005 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in Viper Energy by 6.5% during the second quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock worth $878,000 after buying an additional 1,405 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Price Performance

VNOM stock opened at $45.27 on Friday. 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 has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a 50-day moving average of $43.01 and a two-hundred day moving average of $44.94. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 348.26 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The firm’s revenue was up 127.9% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, equities research analysts anticipate that Viper Energy will post 2.58 EPS for the current 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 paid a dividend of $0.29 per share. This represents a yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s dividend payout ratio is presently 1,169.23%.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.