Viper Energy (NASDAQ:VNOM) Price Target Raised to $51.00

Viper Energy (NASDAQ:VNOM) had its target price hoisted by Wells Fargo & Company from $49.00 to $51.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Mizuho cut their price target on shares of Viper Energy from $55.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Piper Sandler raised their price target on shares of Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Raymond James Financial restated an “outperform” rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.13.

Viper Energy Stock Down 0.2%

VNOM stock opened at $36.40 on Monday. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a quick ratio of 6.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $13.09 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 16.21 and a beta of 0.89. The business has a 50 day moving average of $37.66 and a 200 day moving average of $38.63.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business had revenue of $418.00 million for the quarter, compared to the consensus estimate of $389.35 million. During the same period in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 98.1% compared to the same quarter last year. On average, research analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, November 13th. Viper Energy’s dividend payout ratio is presently 54.55%.

Institutional Trading of Viper Energy

Hedge funds have recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new stake in shares of Viper Energy during the 2nd quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Viper Energy during the third quarter valued at approximately $31,000. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy during the first quarter valued at approximately $34,000. Ameriflex Group Inc. bought a new position in Viper Energy in the third quarter worth approximately $38,000. Finally, AlphaQuest LLC purchased a new position in shares of Viper Energy during the 1st quarter worth $41,000. 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.