Brokerages Set Viper Energy Inc. (NASDAQ:VNOM) PT at $56.43

Shares of Viper Energy Inc. (NASDAQ:VNOM) have been given an average recommendation of “Buy” by the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $56.50.

Several analysts have issued reports on the company. Piper Sandler boosted their target price on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Mizuho boosted their price objective on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Roth Mkm reiterated a “buy” rating and set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. TD Securities boosted their price objective on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Monday, April 20th.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Los Angeles Capital Management LLC bought a new stake in shares of Viper Energy during the 4th quarter valued at $27,000. Ameriflex Group Inc. bought a new stake in shares of Viper Energy during the 3rd quarter valued at $38,000. CoreCap Advisors LLC raised its stake in shares of Viper Energy by 503.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares during the period. Parallel Advisors LLC raised its stake in shares of Viper Energy by 68.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares during the period. Finally, Bogart Wealth LLC bought a new stake in shares of Viper Energy during the 3rd quarter valued at $57,000. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Performance

Shares of VNOM opened at $48.74 on Wednesday. The firm has a market cap of $17.50 billion, a PE ratio of -152.31 and a beta of 0.42. The stock’s fifty day moving average price is $46.85 and its two-hundred day moving average price is $42.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy has a 1 year low of $35.10 and a 1 year high of $51.13.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.82 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business’s revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that Viper Energy will post 2.43 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, May 14th. Viper Energy’s payout ratio is presently -475.00%.

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.