Analysts Set Viper Energy Inc. (NASDAQ:VNOM) Target Price at $56.43

Viper Energy Inc. (NASDAQ:VNOM) has been given a consensus recommendation of “Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $56.50.

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upgraded shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday, April 13th. Roth Mkm restated a “buy” rating and set a $54.00 price objective on shares of Viper Energy in a report on Tuesday, May 5th. Zacks Research raised Viper Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Truist Financial set a $58.00 price objective on Viper Energy in a research note on Wednesday, May 6th.

Institutional Investors Weigh In On Viper Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mountain Lake Investment Management LLC acquired a new position in Viper Energy during the 3rd quarter worth approximately $9,853,000. Principal Financial Group Inc. increased its position in Viper Energy by 26.1% during the 3rd quarter. Principal Financial Group Inc. now owns 374,739 shares of the oil and gas producer’s stock worth $14,323,000 after purchasing an additional 77,519 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Viper Energy by 58.7% during the 3rd quarter. Citigroup Inc. now owns 198,093 shares of the oil and gas producer’s stock valued at $7,571,000 after acquiring an additional 73,303 shares in the last quarter. Titleist Asset Management LLC boosted its holdings in shares of Viper Energy by 958.9% during the 3rd quarter. Titleist Asset Management LLC now owns 223,426 shares of the oil and gas producer’s stock valued at $8,539,000 after acquiring an additional 202,326 shares in the last quarter. Finally, Bornite Capital Management LP acquired a new stake in shares of Viper Energy during the 3rd quarter valued at $38,220,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Price Performance

VNOM opened at $48.98 on Wednesday. The company has a fifty day moving average price of $46.64 and a two-hundred day moving average price of $42.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13. The firm has a market capitalization of $17.59 billion, a PE ratio of -153.06, a P/E/G ratio of 0.96 and a beta of 0.42.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm had revenue of $511.00 million during the quarter, compared to analyst estimates of $499.82 million. During the same quarter in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 108.6% compared to the same quarter last year. As a group, analysts anticipate that Viper Energy will post 2.43 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, May 14th. Viper Energy’s dividend payout ratio (DPR) is presently -475.00%.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.