Viper Energy (NASDAQ:VNOM) Price Target Raised to $60.00

Viper Energy (NASDAQ:VNOM) had its price target lifted by Barclays from $58.00 to $60.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages have also recently commented on VNOM. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Raymond James increased their target price on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group began coverage on shares of Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 target price for the company. Truist Financial reduced their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday. Finally, Roth Mkm increased their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.55.

Viper Energy Stock Up 2.7 %

Shares of VNOM stock opened at $50.01 on Monday. The firm has a fifty day moving average of $49.93 and a 200-day moving average of $48.82. 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 12-month low of $31.18 and a 12-month high of $56.76. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 21.46 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (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 company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was down 28.5% compared to the same quarter last year. As a group, equities research analysts predict that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a $0.65 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is presently 51.50%.

Hedge Funds Weigh In On Viper Energy

Several large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in Viper Energy during the fourth quarter worth about $25,000. Farther Finance Advisors LLC increased its position in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC increased its holdings in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 460 shares during the period. First Horizon Advisors Inc. increased its holdings in 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 valued at $34,000 after buying an additional 214 shares during the period. Finally, National Bank of Canada FI increased its holdings in Viper Energy by 524.8% in 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 buying an additional 1,165 shares during the period. 87.72% of the stock is 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.