Viper Energy (NASDAQ:VNOM) Now Covered by Bank of America

Bank of America initiated coverage on shares of Viper Energy (NASDAQ:VNOM - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $64.00 price objective on the oil and gas producer's stock.

VNOM has been the topic of several other research reports. StockNews.com downgraded Viper Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Truist Financial lifted their price target on shares of Viper Energy from $57.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Roth Mkm raised their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of Viper Energy from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Finally, TD Securities lifted their target price on Viper Energy from $46.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.78.

Viper Energy Stock Performance

VNOM stock traded up $0.06 during trading on Tuesday, reaching $54.26. The stock had a trading volume of 857,682 shares, compared to its average volume of 1,078,741. The firm has a market cap of $10.22 billion, a PE ratio of 23.34 and a beta of 1.72. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock's 50 day moving average is $50.73 and its two-hundred day moving average is $44.54. Viper Energy has a 52 week low of $29.03 and a 52 week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analysts' expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business's quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, equities analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. Viper Energy's dividend payout ratio is currently 51.50%.

Institutional Investors Weigh In On Viper Energy

Several large investors have recently bought and sold shares of VNOM. New York State Teachers Retirement System bought a new position in Viper Energy during the third quarter valued at $984,000. Amalgamated Bank bought a new position in Viper Energy during the 2nd quarter valued at about $616,000. Vanguard Group Inc. raised its position in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer's stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the period. Assenagon Asset Management S.A. raised its position in Viper Energy by 326.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer's stock worth $28,554,000 after purchasing an additional 582,247 shares during the period. Finally, Summit Global Investments bought a new stake in Viper Energy in the third quarter worth about $706,000. 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 in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.