Viper Energy (NASDAQ:VNOM) Shares Down 4.5% – Here’s Why

Viper Energy, Inc. (NASDAQ:VNOM)’s share price dropped 4.5% during trading on Wednesday . The company traded as low as $51.64 and last traded at $51.94. Approximately 306,741 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,066,505 shares. The stock had previously closed at $54.37.

Analyst Ratings Changes

VNOM has been the topic of a number of analyst reports. Truist Financial lifted their price target on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays lifted their price target on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Piper Sandler lifted their price target on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and an average price target of $57.20.

Viper Energy Stock Down 4.3 %

The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $9.81 billion, a P/E ratio of 23.33 and a beta of 1.71. The company has a 50-day moving average of $51.72 and a two-hundred day moving average of $45.25.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same period in the previous year, the company posted $1.10 earnings per share. The firm’s revenue was down 28.5% on a year-over-year basis. On average, research analysts predict that Viper Energy, Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given 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 2.31%. Viper Energy’s dividend payout ratio is presently 51.50%.

Institutional Investors Weigh In On Viper Energy

Several hedge funds have recently made changes to their positions in the company. Fulcrum Equity Management boosted its holdings in Viper Energy by 4.1% in the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock worth $430,000 after acquiring an additional 375 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares in the last quarter. Arizona State Retirement System boosted its holdings in Viper Energy by 2.0% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after acquiring an additional 453 shares in the last quarter. Andina Capital Management LLC boosted its holdings in Viper Energy by 3.8% in the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer’s stock worth $569,000 after acquiring an additional 459 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 460 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.