Viper Energy (NASDAQ:VNOM) Price Target Lowered to $52.00 at Truist Financial

Viper Energy (NASDAQ:VNOM) had its target price cut by Truist Financial from $58.00 to $52.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other equities analysts have also commented on the company. KeyCorp upped their target price on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Royal Bank Of Canada began coverage on Viper Energy in a report on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target on the stock. Wells Fargo & Company boosted their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Mizuho upped their price objective on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.54.

Viper Energy Trading Down 0.0%

NASDAQ VNOM opened at $44.36 on Monday. 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 one year low of $35.10 and a one year high of $51.13. The company has a 50-day simple moving average of $44.54 and a 200-day simple moving average of $44.13. The firm has a market capitalization of $15.93 billion, a PE ratio of -138.62 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $499.81 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. Viper Energy’s quarterly revenue was up 108.6% on a year-over-year basis. On average, equities analysts forecast that Viper Energy will post 2.41 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 14th. Viper Energy’s dividend payout ratio is currently -475.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNOM. Assenagon Asset Management S.A. bought a new stake in Viper Energy during the second quarter worth approximately $10,792,000. GAMMA Investing LLC lifted its position in Viper Energy by 55.9% in the second quarter. GAMMA Investing LLC now owns 4,775 shares of the oil and gas producer’s stock worth $202,000 after purchasing an additional 1,713 shares during the period. Versant Capital Management Inc boosted its stake in Viper Energy by 20.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 413 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Viper Energy by 56.3% during the 1st quarter. Pacer Advisors Inc. now owns 615,920 shares of the oil and gas producer’s stock valued at $28,942,000 after purchasing an additional 221,853 shares in the last quarter. Finally, Southern Financial Group LLC acquired a new position in shares of Viper Energy during the 1st quarter valued at $217,000. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Company Profile

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.