Viper Energy’s (VNOM) “Outperform” Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Viper Energy (NASDAQ:VNOM) in a research report report published on Tuesday,Benzinga reports. They currently have a $58.00 price target on the oil and gas producer’s stock, down from their prior price target of $64.00.

Several other equities analysts have also weighed in on VNOM. Bank of America started coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective for the company. 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 research note on Wednesday, October 16th. Barclays raised their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target 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. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $48.70 on Tuesday. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $50.04 and its two-hundred day simple moving average is $48.78. 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 $9.18 billion, a PE ratio of 20.90 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for 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% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. As a group, analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is currently 51.50%.

Institutional Trading of Viper Energy

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Viper Energy by 8.1% in 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 bought a new position in Viper Energy in the second quarter worth about $305,000. Truist Financial Corp raised its stake in 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 worth $421,000 after buying an additional 488 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Viper Energy in the 2nd quarter worth approximately $1,663,000. Finally, GAMMA Investing LLC lifted its position in 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 buying an additional 460 shares during the period. Institutional investors own 87.72% of the company’s stock.

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.