Viper Energy (NASDAQ:VNOM) Price Target Raised to $51.00 at Wells Fargo & Company

Viper Energy (NASDAQ:VNOM) had its price target hoisted by Wells Fargo & Company from $49.00 to $51.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler boosted their price target on shares of Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $57.00 price target (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. Finally, TD Securities set a $54.00 target price on Viper Energy in a report on Tuesday, September 30th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and an average price target of $54.40.

Viper Energy Price Performance

Viper Energy stock opened at $36.61 on Monday. The business has a 50 day simple moving average of $37.75 and a 200 day simple moving average of $38.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 6.15. The company has a market capitalization of $13.16 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 16.86 and a beta of 0.89. Viper Energy has a one year low of $34.71 and a one year high of $56.76.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $418.00 million during the quarter, compared to analyst estimates of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business’s revenue for the quarter was up 98.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. On average, sell-side analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 3.6%. Viper Energy’s payout ratio is currently 54.55%.

Hedge Funds Weigh In On Viper Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC grew its holdings in Viper Energy by 1.4% during the 1st quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock worth $816,000 after acquiring an additional 249 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Viper Energy by 4.3% during the second quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock worth $260,000 after purchasing an additional 279 shares during the period. Ironsides Asset Advisors LLC grew its stake in shares of Viper Energy by 3.7% during the third quarter. Ironsides Asset Advisors LLC now owns 7,841 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC increased its holdings in Viper Energy by 16.7% in the third quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock valued at $90,000 after purchasing an additional 337 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 350 shares during the period. 87.72% of the stock is owned by 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.