Viper Energy (NASDAQ:VNOM) Price Target Cut to $68.00 by Analysts at Truist Financial

Viper Energy (NASDAQ:VNOM) had its target price reduced by Truist Financial from $78.00 to $68.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other research firms have also weighed in on VNOM. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. Piper Sandler lowered their price target on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their target price on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Barclays increased their price target on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.91.

Viper Energy Trading Up 2.0 %

Shares of VNOM stock opened at $47.85 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 20.54 and a beta of 1.71. Viper Energy has a 52-week low of $30.56 and a 52-week high of $56.76. The company has a 50-day simple moving average of $50.17 and a two-hundred day simple moving average of $48.74.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. Research analysts anticipate that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.30 dividend. 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 2.51%. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Institutional Investors Weigh In On Viper Energy

Several hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC bought a new stake in Viper Energy in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC grew its stake in shares of 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 worth $26,000 after purchasing an additional 450 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 214 shares during the period. Finally, National Bank of Canada FI boosted its position in Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,165 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

About Viper Energy

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.