Evercore ISI Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target boosted by Evercore ISI from $49.00 to $51.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

VNOM has been the topic of several other research reports. Barclays lifted their price objective on shares of Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp decreased their price target on Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Finally, Mizuho lifted their target price on Viper Energy from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.85.

Viper Energy Trading Up 2.8%

Shares of NASDAQ:VNOM opened at $41.33 on Wednesday. The business’s 50 day simple moving average is $40.32 and its 200 day simple moving average is $45.70. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market capitalization of $11.93 billion, a P/E ratio of 17.74 and a beta of 1.00.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. The business had revenue of $245.00 million during the quarter, compared to analysts’ expectations of $233.99 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, research analysts anticipate that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VNOM. Vanguard Group Inc. raised its stake in Viper Energy by 28.9% during the first quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer’s stock worth $587,708,000 after buying an additional 2,921,832 shares during the last quarter. Wellington Management Group LLP grew its holdings in Viper Energy by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer’s stock worth $539,719,000 after acquiring an additional 1,301,933 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Viper Energy by 21.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer’s stock worth $451,336,000 after acquiring an additional 1,778,093 shares in the last quarter. FIL Ltd lifted its stake in shares of Viper Energy by 8.5% in the 4th quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer’s stock valued at $194,520,000 after purchasing an additional 310,890 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Viper Energy by 19.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,751,660 shares of the oil and gas producer’s stock valued at $124,238,000 after purchasing an additional 442,235 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.