Viper Energy Inc. (NASDAQ:VNOM) Stock Has Consensus Target Price of $56.35

Viper Energy Inc. (NASDAQ:VNOM) has received a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $56.41.

A number of equities analysts have recently issued reports on the company. Zacks Research raised Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Truist Financial raised their price target on shares of Viper Energy from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Seaport Research Partners began coverage on shares of Viper Energy in a research note on Thursday, September 3rd. They set a “buy” rating and a $45.00 price objective for the company. Scotiabank began coverage on Viper Energy in a research report on Wednesday, October 14th. They set a “sector outperform” rating and a $54.00 price target for the company. Finally, Mizuho set a $57.00 price objective on shares of Viper Energy in a report on Tuesday, October 13th.

Viper Energy Price Performance

Shares of Viper Energy stock opened at $40.19 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.92 and a current ratio of 5.92. Viper Energy has a one year low of $35.10 and a one year high of $51.13. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 29.34 and a beta of 0.49. The stock has a 50 day moving average price of $43.43 and a 200-day moving average price of $44.42.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The business had revenue of $661.00 million for the quarter, compared to analyst estimates of $625.18 million. Viper Energy had a return on equity of 4.24% and a net margin of 12.08%. The business’s revenue was up 58.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. Equities analysts expect that Viper Energy will post 2.92 EPS for the current year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, November 12th. Viper Energy’s payout ratio is presently 110.95%.

Hedge Funds Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently made changes to their positions in VNOM. Stephens Investment Management Group LLC grew its holdings in shares of Viper Energy by 8.8% during the third quarter. Stephens Investment Management Group LLC now owns 1,355,126 shares of the oil and gas producer’s stock worth $54,056,000 after buying an additional 109,502 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Viper Energy by 13.5% during the first quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock valued at $57,485,000 after acquiring an additional 145,221 shares during the last quarter. Recurrent Investment Advisors LLC raised its position in Viper Energy by 36.9% in the first quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock valued at $46,488,000 after purchasing an additional 266,703 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Viper Energy in the 1st quarter valued at $37,464,000. Finally, Bank of America Corp DE boosted its holdings in Viper Energy by 24.0% during the 1st quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock valued at $37,373,000 after acquiring an additional 154,032 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

About Viper Energy

Viper Energy, Inc. owns and acquires mineral and royalty interests in oil and natural gas properties. Rather than serving primarily as a drilling operator, the company earns revenue from production on acreage where other companies conduct exploration and development. Its interests are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s business is tied to activity by the operators that develop the underlying properties.