Viper Energy (NASDAQ:VNOM) Receives “Outperform” Rating from Raymond James

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

A number of other equities research analysts also recently weighed in on the company. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. 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 report on Friday, December 13th. Truist Financial dropped their target price on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, Barclays upped their price objective on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

Viper Energy Trading Down 0.6 %

VNOM stock opened at $49.71 on Tuesday. The company has a market cap of $9.37 billion, a P/E ratio of 21.33 and a beta of 1.71. Viper Energy has a twelve month low of $31.39 and a twelve month high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $49.85 and a 200-day moving average of $48.83.

Viper Energy (NASDAQ:VNOM) last released its 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 the consensus estimate of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, equities research analysts expect that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VNOM. Raymond James Financial Inc. acquired a new position in shares of Viper Energy during the fourth quarter worth about $95,505,000. State Street Corp boosted its position in Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the last quarter. Yaupon Capital Management LP acquired a new position in Viper Energy during the third quarter valued at approximately $18,044,000. Retirement Systems of Alabama acquired a new position in Viper Energy during the third quarter valued at approximately $12,980,000. Finally, Zimmer Partners LP boosted its position in Viper Energy by 344.0% during the third quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock valued at $14,661,000 after purchasing an additional 251,800 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.