Viper Energy (NASDAQ:VNOM) Given New $58.00 Price Target at TD Securities

Viper Energy (NASDAQ:VNOM) had its target price boosted by TD Securities from $57.00 to $58.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. TD Securities currently has a buy rating on the oil and gas producer’s stock.

A number of other research analysts have also commented on the stock. Raymond James reiterated an “outperform” rating and set a $54.00 price objective (up previously from $52.00) on shares of Viper Energy in a research note on Wednesday, May 28th. Evercore ISI increased their price target on Viper Energy from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on Viper Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Viper Energy from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Mizuho lifted their target price on Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Viper Energy Trading Down 3.1%

NASDAQ:VNOM opened at $40.14 on Wednesday. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 17.23 and a beta of 1.05. 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 $34.71 and a 1 year high of $56.76. The business has a fifty day moving average of $40.51 and a 200-day moving average of $45.87.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 2.99%. Viper Energy’s payout ratio is presently 31.58%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Viper Energy during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Viper Energy in the fourth quarter worth $32,000. Assetmark Inc. grew its holdings in shares of Viper Energy by 321.7% during the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 518 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 414 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.