Viper Energy (NASDAQ:VNOM) Price Target Raised to $71.00

Viper Energy (NASDAQ:VNOM) had its price target increased by Truist Financial from $64.00 to $71.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

VNOM has been the topic of a number of other research reports. Bank of America began coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research note on Friday, December 13th. Barclays upped their target price on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm increased their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Viper Energy Trading Up 2.1 %

Shares of NASDAQ VNOM opened at $51.42 on Monday. Viper Energy has a fifty-two week low of $30.21 and a fifty-two week high of $56.76. The firm has a market capitalization of $9.69 billion, a P/E ratio of 22.07 and a beta of 1.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company’s 50 day simple moving average is $51.35 and its 200 day simple moving average is $47.93.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating 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 company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter in the previous year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, analysts predict that Viper Energy will post 2.01 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, November 14th. Viper Energy’s payout ratio is presently 51.50%.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after buying an additional 224,021 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Viper Energy by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after buying an additional 234,048 shares during the period. Merewether Investment Management LP grew its stake in Viper Energy by 22.9% in the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after buying an additional 160,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Viper Energy by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after acquiring an additional 66,222 shares during the period. Institutional investors own 87.72% of the company’s stock.

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.