Viper Energy Inc. (NASDAQ:VNOM) Receives $54.47 Consensus Target Price from Brokerages

Shares of Viper Energy Inc. (NASDAQ:VNOM) have been given a consensus rating of “Buy” by the seventeen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $55.00.

A number of analysts have recently commented on VNOM shares. KeyCorp boosted their price objective on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Mizuho boosted their price objective on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. 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 report on Tuesday, February 24th. Wall Street Zen upgraded Viper Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $60.00 price objective on shares of Viper Energy in a research report on Monday.

Viper Energy Stock Up 2.3%

Shares of VNOM stock opened at $46.44 on Friday. The stock has a 50 day moving average of $45.61 and a 200 day moving average of $40.85. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $16.60 billion, a P/E ratio of -201.90, a P/E/G ratio of 0.96 and a beta of 0.50. Viper Energy has a twelve month low of $35.10 and a twelve month high of $49.08.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.51 million. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.Viper Energy’s quarterly revenue was up 87.6% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. As a group, sell-side analysts expect that Viper Energy will post 2.32 EPS for the current year.

Viper Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 5th. Viper Energy’s dividend payout ratio (DPR) is presently -660.87%.

Institutional Trading of Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Viper Energy in the fourth quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Viper Energy in the third quarter valued at approximately $31,000. Ameriflex Group Inc. acquired a new stake in shares of Viper Energy in the third quarter worth approximately $38,000. CoreCap Advisors LLC boosted its stake in shares of Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 906 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Viper Energy by 68.3% in the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 568 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.