Analysts Set Viper Energy Inc. (NASDAQ:VNOM) Target Price at $55.53

Viper Energy Inc. (NASDAQ:VNOM) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $55.2667.

VNOM has been the subject of several research reports. TD Securities set a $54.00 price objective on shares of Viper Energy in a report on Tuesday. Mizuho decreased their price objective on shares of Viper Energy from $55.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, September 15th. KeyCorp decreased their price objective on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a report on Saturday, September 27th. Finally, Raymond James Financial restated an “outperform” rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th.

Viper Energy Trading Up 2.5%

NASDAQ:VNOM opened at $39.01 on Tuesday. The company has a fifty day moving average of $38.30 and a 200 day moving average of $39.57. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $11.26 billion, a P/E ratio of 11.27, a P/E/G ratio of 17.43 and a beta of 0.92.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.35 million. During the same period in the prior year, the business posted $0.62 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. On average, research analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. Viper Energy’s dividend payout ratio is currently 38.15%.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Viper Energy by 16.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock worth $90,000 after buying an additional 337 shares during the period. Corient Private Wealth LLC grew its position in shares of Viper Energy by 89.0% in the 2nd quarter. Corient Private Wealth LLC now owns 22,251 shares of the oil and gas producer’s stock worth $848,000 after buying an additional 10,481 shares during the period. Advisory Services Network LLC grew its position in shares of Viper Energy by 132.2% in the 2nd quarter. Advisory Services Network LLC now owns 13,237 shares of the oil and gas producer’s stock worth $498,000 after buying an additional 7,537 shares during the period. FORA Capital LLC purchased a new stake in shares of Viper Energy in the 2nd quarter worth about $447,000. Finally, Evergreen Capital Management LLC grew its position in shares of Viper Energy by 1.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 65,333 shares of the oil and gas producer’s stock worth $2,491,000 after buying an additional 678 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.