Wall Street Zen upgraded shares of Viper Energy (NASDAQ:VNOM – Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.
Several other equities research analysts have also recently weighed in on VNOM. Morgan Stanley dropped their target price on Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. TD Securities set a $54.00 target price on Viper Energy in a report on Tuesday, September 30th. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Piper Sandler increased their price objective on Viper Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company increased their price objective on Viper Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday. Fifteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.21.
Viper Energy Trading Up 0.4%
Viper Energy (NASDAQ:VNOM – Get Free Report) last issued its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.Viper Energy’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. As a group, sell-side analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.
Viper Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, August 14th. Viper Energy’s dividend payout ratio (DPR) is presently 38.15%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its stake in Viper Energy by 22.1% during the first quarter. Swiss National Bank now owns 247,177 shares of the oil and gas producer’s stock valued at $11,160,000 after buying an additional 44,700 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Viper Energy by 27.6% during the first quarter. Principal Financial Group Inc. now owns 302,575 shares of the oil and gas producer’s stock valued at $13,661,000 after acquiring an additional 65,375 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Viper Energy by 21.3% during the first quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer’s stock valued at $2,705,000 after acquiring an additional 10,529 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Viper Energy by 21.2% during the first quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer’s stock valued at $70,117,000 after acquiring an additional 271,337 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Viper Energy by 28.7% during the first quarter. State of Michigan Retirement System now owns 31,400 shares of the oil and gas producer’s stock valued at $1,418,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors 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.
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