Viper Energy (NASDAQ:VNOM) Shares Gap Down - What's Next?

Shares of Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $52.33, but opened at $50.62. Viper Energy shares last traded at $51.25, with a volume of 113,908 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial upped their target price on Viper Energy from $54.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Evercore ISI upped their target price on Viper Energy from $37.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 8th. Barclays upped their target price on Viper Energy from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Finally, TD Securities upped their target price on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Viper Energy Stock Performance

The company has a market cap of $9.08 billion, a P/E ratio of 17.50 and a beta of 1.73. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $47.89 and a two-hundred day moving average price of $42.43.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm's quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, research analysts predict that Viper Energy, Inc. will post 2.03 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.34%. Viper Energy's dividend payout ratio (DPR) is currently 41.10%.

Hedge Funds Weigh In On Viper Energy

Large investors have recently made changes to their positions in the company. Arizona State Retirement System grew its position in Viper Energy by 2.0% during the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer's stock worth $848,000 after buying an additional 453 shares in the last quarter. Andina Capital Management LLC grew its position in Viper Energy by 3.8% during the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer's stock worth $569,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC grew its position in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock worth $31,000 after buying an additional 460 shares in the last quarter. Truist Financial Corp grew its position in Viper Energy by 4.5% during the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer's stock worth $421,000 after buying an additional 488 shares in the last quarter. Finally, ORG Partners LLC grew its position in Viper Energy by 17.9% during the third quarter. ORG Partners LLC now owns 3,320 shares of the oil and gas producer's stock worth $150,000 after buying an additional 505 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Company Profile

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.