Viper Energy Inc. (NASDAQ:VNOM) Receives $56.93 Consensus Target Price from Analysts

Viper Energy Inc. (NASDAQ:VNOM) has earned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $56.9333.

A number of analysts have recently commented on VNOM shares. Johnson Rice assumed coverage on Viper Energy in a report on Monday, August 3rd. They issued an “accumulate” rating and a $55.00 price target on the stock. Zacks Research downgraded Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Wells Fargo & Company lifted their target price on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley cut their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VNOM. Capital World Investors increased its position in shares of Viper Energy by 4.0% in the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock valued at $498,967,000 after acquiring an additional 493,203 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Viper Energy by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Viper Energy by 4,352.6% during the 2nd quarter. California State Teachers Retirement System now owns 9,668,090 shares of the oil and gas producer’s stock worth $409,927,000 after purchasing an additional 9,450,957 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Viper Energy by 21.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after purchasing an additional 1,024,838 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Viper Energy by 2.9% during the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after purchasing an additional 148,503 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 1.4%

Shares of NASDAQ:VNOM opened at $44.07 on Friday. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $43.04 and its 200 day simple moving average is $44.97. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 339.03 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data 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 analysts’ expectations of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm’s revenue was up 127.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. As a group, research analysts forecast that Viper Energy will post 2.58 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a $0.29 dividend. This represents a dividend yield of 281.0%. The ex-dividend date of this dividend was Thursday, August 13th. Viper Energy’s payout ratio is currently 1,169.23%.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.