Viper Energy (NASDAQ:VNOM) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

Viper Energy Inc. (NASDAQ:VNOM) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $44.75 and traded as low as $39.77. Viper Energy shares last traded at $40.69, with a volume of 2,185,415 shares traded.

Analyst Ratings Changes

Several brokerages have commented on VNOM. Roth Capital reaffirmed a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Raymond James Financial set a $57.00 target price on shares of Viper Energy in a research report on Friday, July 31st. Johnson Rice began coverage on shares of Viper Energy in a research note on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price target for the company. TD Cowen reaffirmed a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Finally, Barclays dropped their price objective on Viper Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.93.

Viper Energy Trading Down 0.1%

The company has a market cap of $14.60 billion, a PE ratio of 312.64 and a beta of 0.50. The firm’s 50 day moving average is $43.10 and its 200 day moving average is $44.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 127.9% compared to the same quarter last year. On average, equities analysts anticipate that Viper Energy Inc. will post 2.72 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently declared a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $0.29 dividend. 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 is presently 1,169.23%.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently modified their holdings of VNOM. Envestnet Portfolio Solutions Inc. raised its position in Viper Energy by 57.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 23,573 shares of the oil and gas producer’s stock worth $999,000 after purchasing an additional 8,642 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Viper Energy in the 2nd quarter worth approximately $2,453,000. Integrated Wealth Concepts LLC bought a new stake in shares of Viper Energy in the 2nd quarter worth approximately $56,000. IFP Advisors Inc increased its stake in shares of Viper Energy by 1,250.0% during the second quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 875 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Viper Energy by 0.6% during the second quarter. Arizona State Retirement System now owns 52,276 shares of the oil and gas producer’s stock valued at $2,217,000 after buying an additional 312 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

About Viper Energy

Viper Energy, Inc (NASDAQ: VNOM) is an oil and gas company that owns and acquires mineral, royalty and overriding royalty interests in properties operated primarily by other exploration and production companies. Its interests provide exposure to production from wells without requiring Viper to fund most drilling and completion activities.

The company’s assets are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s interests are associated mainly with oil and natural gas development and generate revenue from its share of production, while its broad and diversified ownership position spans numerous wells and acreage holdings.

Viper Energy was established as Viper Energy Partners and became a publicly traded master limited partnership in 2014.