Viper Energy (NASDAQ:VNOM) Price Target Raised to $71.00

Viper Energy (NASDAQ:VNOM - Free Report) had its price target hoisted by Truist Financial from $64.00 to $71.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer's stock.

Other analysts have also issued research reports about the stock. KeyCorp upgraded shares of Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. StockNews.com downgraded Viper Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group started coverage on Viper Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $70.00 target price on the stock. Piper Sandler reduced their price target on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Viper Energy has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Viper Energy Stock Performance

Viper Energy stock traded up $1.16 during midday trading on Monday, hitting $50.81. The company's stock had a trading volume of 1,083,174 shares, compared to its average volume of 801,125. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 21.81 and a beta of 1.73. Viper Energy has a 1-year low of $30.21 and a 1-year high of $56.76. The company has a 50-day moving average price of $51.47 and a two-hundred day moving average price of $47.82.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm's quarterly revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, sell-side analysts predict that Viper Energy will post 2.01 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.36%. Viper Energy's payout ratio is 51.50%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently modified their holdings of the company. FMR LLC boosted its position in Viper Energy by 4,836.9% during the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer's stock valued at $3,365,000 after acquiring an additional 73,085 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Viper Energy during the third quarter worth approximately $984,000. Geode Capital Management LLC increased its holdings in Viper Energy by 16.0% in the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer's stock worth $76,647,000 after purchasing an additional 234,048 shares in the last quarter. Amalgamated Bank acquired a new position in Viper Energy in the second quarter valued at approximately $616,000. Finally, Summit Global Investments bought a new position in shares of Viper Energy during the 3rd quarter worth approximately $706,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.