Viper Energy (NASDAQ:VNOM) Stock Price Down 5.1% – Time to Sell?

Shares of Viper Energy Inc. (NASDAQ:VNOM) dropped 5.1% during trading on Wednesday . The company traded as low as $43.71 and last traded at $43.6160. Approximately 210,641 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,242,163 shares. The stock had previously closed at $45.96.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen restated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Morgan Stanley reduced their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research note on Friday, May 29th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, July 20th. Sixteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.93.

Viper Energy Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37. The firm has a 50 day moving average price of $43.77 and a two-hundred day moving average price of $45.04. The company has a market capitalization of $15.36 billion, a P/E ratio of 328.97 and a beta of 0.39.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.Viper Energy’s quarterly revenue was up 127.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, research analysts expect that Viper Energy Inc. will post 2.74 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a dividend yield of 281.0%. Viper Energy’s dividend payout ratio (DPR) is presently 1,169.23%.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in Viper Energy by 1,250.0% during the 2nd quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 875 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Viper Energy during the second quarter worth approximately $56,000. Parallel Advisors LLC increased its holdings in shares of Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 322 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 654 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Viper Energy by 20.0% in the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 413 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy, Inc (NASDAQ:VNOM) is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.

Viper’s asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.