Evercore ISI Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target boosted by Evercore ISI from $45.00 to $58.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

A number of other research firms have also weighed in on VNOM. Barclays raised their price objective on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research note on Friday, December 13th. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price target for the company. 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 report on Thursday, December 5th. Finally, Truist Financial lifted their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $59.36.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $50.20 on Wednesday. The business has a fifty day simple moving average of $51.60 and a two-hundred day simple moving average of $47.48. The firm has a market capitalization of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $210.54 million. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Viper Energy’s quarterly revenue was down 28.5% on a year-over-year basis. On average, equities analysts forecast that Viper Energy will post 2.01 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.39%. Viper Energy’s dividend payout ratio (DPR) is 51.50%.

Institutional Trading of Viper Energy

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position 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 worth $26,000 after buying an additional 450 shares during the last quarter. GAMMA Investing LLC grew its stake in Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares in the last quarter. National Bank of Canada FI grew its position in shares of 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 worth $63,000 after buying an additional 1,165 shares in the last quarter. Versant Capital Management Inc purchased a new position in Viper Energy during the 4th quarter valued at about $94,000. Finally, Plato Investment Management Ltd raised its holdings in shares of Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 1,541 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other 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.