Viper Energy (NASDAQ:VNOM) Now Covered by Bank of America

Bank of America initiated coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $64.00 target price on the oil and gas producer’s stock.

A number of other equities research analysts also recently commented on the stock. Piper Sandler increased their price objective on shares of Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Roth Mkm increased their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, TD Securities increased their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.78.

Viper Energy Price Performance

Shares of VNOM opened at $53.94 on Tuesday. Viper Energy has a fifty-two week low of $29.03 and a fifty-two week high of $56.76. The firm’s 50 day moving average price is $51.27 and its 200 day moving average price is $44.79. The company has a market cap of $10.16 billion, a P/E ratio of 23.15 and a beta of 1.72. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same period in the prior year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, research analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is 51.50%.

Institutional Trading of Viper Energy

A number of large investors have recently bought and sold shares of VNOM. Vanguard Group Inc. boosted its stake in Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Viper Energy during the 1st quarter worth $601,000. California State Teachers Retirement System boosted its stake in Viper Energy by 18.4% during the 1st quarter. California State Teachers Retirement System now owns 72,600 shares of the oil and gas producer’s stock worth $2,792,000 after purchasing an additional 11,293 shares during the period. Tidal Investments LLC acquired a new stake in Viper Energy during the 1st quarter worth $290,000. Finally, Montchanin Asset Management LLC acquired a new stake in Viper Energy during the 1st quarter worth $576,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.