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

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

Other research analysts have also issued reports about the stock. Roth Mkm upped their target price on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler decreased their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial cut their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group began coverage on Viper Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Finally, KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.91.

Viper Energy Trading Up 2.0 %

Shares of VNOM opened at $47.85 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy has a 1-year low of $30.56 and a 1-year high of $56.76. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 20.54 and a beta of 1.71. The firm has a 50 day simple moving average of $50.17 and a 200-day simple moving average of $48.74.

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

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.51%. Viper Energy’s payout ratio is 51.50%.

Institutional Investors Weigh In On Viper Energy

Several institutional investors have recently bought and sold shares of VNOM. The Manufacturers Life Insurance Company boosted its position in Viper Energy by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,497 shares of the oil and gas producer’s stock worth $507,000 after purchasing an additional 1,006 shares during the period. Algert Global LLC purchased a new stake in shares of Viper Energy in the second quarter worth about $305,000. Truist Financial Corp grew its stake in shares of Viper Energy by 4.5% in the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock valued at $421,000 after buying an additional 488 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Viper Energy during the 2nd quarter valued at about $1,663,000. Finally, GAMMA Investing LLC lifted its position in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 460 shares in the last quarter. 87.72% of the stock is currently 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.