Viper Energy (NASDAQ:VNOM) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Viper Energy (NASDAQ:VNOM - Free Report) from a sector weight rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat reports. They currently have $62.00 price objective on the oil and gas producer's stock.

VNOM has been the topic of a number of other reports. JPMorgan Chase & Co. lifted 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. TD Securities boosted their price target on Viper Energy from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. The Goldman Sachs Group assumed coverage on Viper Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $70.00 price objective for the company. Raymond James boosted their target price on Viper Energy from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, StockNews.com cut Viper Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.27.

Viper Energy Stock Performance

VNOM traded down $0.03 during trading on Friday, hitting $51.19. 807,107 shares of the stock were exchanged, compared to its average volume of 1,063,096. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 1-year low of $30.16 and a 1-year high of $56.76. The stock has a fifty day moving average price of $52.44 and a two-hundred day moving average price of $45.80. The firm has a market capitalization of $9.64 billion, a P/E ratio of 21.99 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business had revenue of $209.59 million for the quarter, compared to analysts' expectations of $210.54 million. During the same period in the previous year, the company posted $1.10 EPS. The company's quarterly revenue was down 28.5% on a year-over-year basis. As a group, sell-side analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy's dividend payout ratio (DPR) is currently 51.50%.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently made changes to their positions in VNOM. Fulcrum Equity Management grew its holdings in shares of Viper Energy by 4.1% in the 3rd quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer's stock worth $430,000 after acquiring an additional 375 shares during the period. Farther Finance Advisors LLC grew its holdings in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 450 shares during the last quarter. Arizona State Retirement System increased its position in shares of Viper Energy by 2.0% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer's stock valued at $848,000 after buying an additional 453 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Viper Energy by 3.8% during the 3rd 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 during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Viper Energy by 208.1% in the 3rd 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. 87.72% of the stock is owned by institutional investors and hedge funds.

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.