Viper Energy Inc. (NASDAQ:VNOM) Receives $56.93 Average PT from Analysts

Viper Energy Inc. (NASDAQ:VNOM) has been assigned an average rating of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $56.9333.

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Friday, July 17th. Roth Capital reissued a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. TD Cowen restated a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Royal Bank Of Canada started coverage on Viper Energy in a research report on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target for the company. Finally, Wall Street Zen downgraded Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th.

Viper Energy Trading Down 1.3%

NASDAQ:VNOM opened at $41.72 on Tuesday. The company has a market capitalization of $14.99 billion, a P/E ratio of 320.95 and a beta of 0.39. The stock’s 50 day moving average price is $43.77 and its 200 day moving average price is $44.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The company’s revenue was up 127.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, research analysts forecast that Viper Energy will post 2.74 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently announced a special dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $0.29 dividend. This represents a yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s payout ratio is 1,169.23%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in shares of Viper Energy by 4.0% in the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock valued at $498,967,000 after purchasing an additional 493,203 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Viper Energy by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock worth $192,672,000 after buying an additional 258,082 shares during the period. Bornite Capital Management LP grew its stake in Viper Energy by 50.0% in the 4th quarter. Bornite Capital Management LP now owns 1,500,000 shares of the oil and gas producer’s stock valued at $57,945,000 after buying an additional 500,000 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in Viper Energy by 8.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,231,728 shares of the oil and gas producer’s stock valued at $57,879,000 after buying an additional 93,498 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Viper Energy by 13.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock worth $57,485,000 after acquiring an additional 145,221 shares during the period. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy, Inc (NASDAQ:VNOM) is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.

Viper’s asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.