Viper Energy (NASDAQ:VNOM) Sees Large Volume Increase – Here’s What Happened

Viper Energy, Inc. (NASDAQ:VNOM) shares saw strong trading volume on Friday . 3,090,646 shares were traded during mid-day trading, an increase of 223% from the previous session’s volume of 957,240 shares.The stock last traded at $47.07 and had previously closed at $46.24.

Analyst Upgrades and Downgrades

VNOM has been the subject of several research analyst reports. Raymond James upped their price objective on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler lowered their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. increased their target price on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Roth Mkm raised their price objective on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI upped their target price on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Viper Energy Trading Up 3.9 %

The company’s fifty day moving average is $50.36 and its 200-day moving average is $48.59. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $9.05 billion, a P/E ratio of 20.58 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was down 28.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNOM. State Street Corp lifted its stake 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 buying an additional 1,682,183 shares during the period. Geode Capital Management LLC raised its holdings in Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after acquiring an additional 234,048 shares in the last quarter. Merewether Investment Management LP grew its holdings in shares of Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after purchasing an additional 160,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Viper Energy by 11.8% in the third 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 purchasing an additional 66,222 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in shares of Viper Energy in the third quarter valued at $18,044,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.