Viper Energy Inc. (NASDAQ:VNOM) Stock Has Average Target Price of $56.35

by · The Cerbat Gem

Shares of Viper Energy Inc. (NASDAQ:VNOM – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $56.41.

Several brokerages recently commented on VNOM. Wall Street Zen lowered shares of Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Mizuho set a $57.00 target price on shares of Viper Energy in a research report on Tuesday, October 13th. Roth Capital restated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. TD Cowen reiterated a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Finally, Truist Financial increased their price target on shares of Viper Energy from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday.

Check Out Our Latest Report on VNOM

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of Viper Energy in the 1st quarter worth about $37,464,000. Russell Investments Group Ltd. grew its stake in Viper Energy by 215.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 623,068 shares of the oil and gas producer’s stock valued at $24,854,000 after purchasing an additional 425,409 shares during the period. Ashford Capital Management Inc. purchased a new stake in Viper Energy during the first quarter valued at about $16,103,000. Recurrent Investment Advisors LLC lifted its position in Viper Energy by 36.9% during the first quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock valued at $46,488,000 after buying an additional 266,703 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Viper Energy during the second quarter valued at approximately $10,792,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $40.62 on Wednesday. Viper Energy has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $43.60 and its 200-day moving average price is $44.41. The company has a market cap of $14.59 billion, a PE ratio of 19.54 and a beta of 0.49.

Viper Energy (NASDAQ:VNOM – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $625.18 million. Viper Energy had a return on equity of 4.26% and a net margin of 12.08%. The company’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, analysts anticipate that Viper Energy will post 2.92 EPS for the current year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 12th. This represents a $2.00 dividend on an annualized basis and a yield of 4.9%. Viper Energy’s dividend payout ratio is currently 110.95%.

Viper Energy Company Profile

(Get Free Report)

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.

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