Viper Energy (NASDAQ:VNOM) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Viper Energy (NASDAQ:VNOM) from a sell rating to a hold rating in a report released on Friday morning.

A number of other research analysts have also recently weighed in on VNOM. Truist Financial boosted their price objective on shares of Viper Energy from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America started coverage on Viper Energy in a report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price target on the stock. Finally, Piper Sandler dropped their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.00.

Viper Energy Stock Up 0.8 %

Shares of NASDAQ:VNOM opened at $51.37 on Friday. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 22.05 and a beta of 1.73. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76. 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 company has a 50-day moving average price of $51.21 and a 200 day moving average price of $48.05.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s quarterly revenue was down 28.5% on a year-over-year basis. As a group, equities research analysts predict that Viper Energy will post 2 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. Viper Energy’s dividend payout ratio is currently 51.50%.

Institutional Trading of Viper Energy

A number of hedge funds have recently added to or reduced their stakes in VNOM. State Street Corp raised its holdings in shares of Viper Energy by 78.2% in the 3rd 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 in the last quarter. Yaupon Capital Management LP bought a new position in Viper Energy in the third quarter worth approximately $18,044,000. Retirement Systems of Alabama purchased a new stake in Viper Energy during the third quarter worth $12,980,000. Zimmer Partners LP lifted its holdings in Viper Energy by 344.0% during the third quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after buying an additional 251,800 shares during the period. Finally, Geode Capital Management LLC boosted its position in 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 valued at $76,647,000 after acquiring an additional 234,048 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.