Viper Energy’s (VNOM) “Outperform” Rating Reiterated at Raymond James

Raymond James reissued their outperform rating on shares of Viper Energy (NASDAQ:VNOM) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $60.00 price target on the oil and gas producer’s stock, up from their previous price target of $54.00.

Other research analysts have also recently issued research reports about the company. Barclays upped their price target on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho boosted their target price on shares of Viper Energy from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. KeyCorp cut their target price on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler cut their target price on shares of Viper Energy from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average price target of $56.85.

Viper Energy Price Performance

NASDAQ VNOM opened at $41.33 on Thursday. The stock has a market capitalization of $11.93 billion, a P/E ratio of 17.74 and a beta of 1.00. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The business’s fifty day moving average is $40.32 and its two-hundred day moving average is $45.64. 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 (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $233.99 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, research analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy’s dividend payout ratio is currently 31.58%.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Viper Energy during the 4th quarter valued at $25,000. Quarry LP purchased a new position in shares of Viper Energy during the 4th quarter valued at $32,000. Assetmark Inc. grew its holdings in shares of Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 518 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 414 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Viper Energy by 43.9% in the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 214 shares in the last quarter. 87.72% of the stock is currently 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.