Viper Energy, Inc. (NASDAQ:VNOM) Receives $60.00 Average Target Price from Brokerages

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $60.00.

Several research firms have recently commented on VNOM. StockNews.com upgraded Viper Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler cut their target price 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. Roth Mkm increased their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays boosted their price objective on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a report on Friday, December 13th.

Hedge Funds Weigh In On Viper Energy

Several hedge funds have recently made changes to their positions in VNOM. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC boosted its stake in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares during the period. National Bank of Canada FI boosted its stake in shares of Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 1,165 shares during the period. Versant Capital Management Inc bought a new position in shares of Viper Energy in the fourth quarter worth approximately $94,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Viper Energy in the fourth quarter worth $110,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Price Performance

VNOM stock opened at $46.59 on Thursday. The stock’s 50 day moving average price is $50.93 and its 200 day moving average price is $48.53. The firm has a market cap of $8.78 billion, a P/E ratio of 20.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy has a 1 year low of $30.56 and a 1 year high of $56.76.

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, 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 business had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the company earned $1.10 earnings per share. The company’s quarterly revenue was down 28.5% on a year-over-year basis. On average, sell-side analysts expect that Viper Energy will post 2.01 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio is 51.50%.

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.