Viper Energy (NASDAQ:VNOM) Shares Gap Down to $45.13

Shares of Viper Energy, Inc. (NASDAQ:VNOM) gapped down prior to trading on Thursday . The stock had previously closed at $45.13, but opened at $43.66. Viper Energy shares last traded at $43.47, with a volume of 1,610,435 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Barclays raised their price target on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Piper Sandler increased their target price on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. 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 note on Thursday. Finally, Evercore ISI upped their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $48.17.

Viper Energy Trading Down 0.9 %

The business has a 50-day moving average price of $44.15 and a two-hundred day moving average price of $39.95. The company has a market cap of $7.60 billion, a P/E ratio of 15.80 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.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue was up 34.8% compared to the same quarter last year. On average, analysts predict that Viper Energy, Inc. will post 2.1 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.79%. Viper Energy’s payout ratio is presently 44.12%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VNOM. Vanguard Group Inc. increased its holdings in Viper Energy by 1,045.4% in the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after purchasing an additional 6,277,324 shares during the last quarter. Wellington Management Group LLP boosted its stake in Viper Energy by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after acquiring an additional 2,246,219 shares during the last quarter. Scout Investments Inc. acquired a new position in Viper Energy during the fourth quarter valued at approximately $40,808,000. Epoch Investment Partners Inc. increased its stake in Viper Energy by 91.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock valued at $78,616,000 after purchasing an additional 1,197,567 shares in the last quarter. Finally, Capital World Investors raised its holdings in Viper Energy by 16.8% in the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after purchasing an additional 923,276 shares during the period. Institutional investors and hedge funds 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.