Viper Energy (NASDAQ:VNOM) Upgraded to Strong-Buy at Seaport Research Partners

Seaport Research Partners upgraded shares of Viper Energy (NASDAQ:VNOM) to a strong-buy rating in a report published on Wednesday, Marketbeat.com reports.

Other research analysts have also recently issued reports about the company. TD lifted their price objective on Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Barclays cut their target price on shares of Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Truist Financial decreased their price target on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Mizuho dropped their price target on Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.93.

Viper Energy Stock Down 0.5%

Shares of Viper Energy stock opened at $44.89 on Wednesday. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $43.23 and a two-hundred day moving average price of $45.04. The stock has a market capitalization of $16.12 billion, a P/E ratio of 345.33 and a beta of 0.39.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The business’s revenue was up 127.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. Equities analysts expect that Viper Energy will post 2.6 earnings per share for the current year.

Viper Energy Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, August 13th. This represents a dividend yield of 281.0%. Viper Energy’s payout ratio is currently 1,169.23%.

Institutional Trading of Viper Energy

Institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Viper Energy in the second quarter valued at about $1,675,000. California State Teachers Retirement System boosted its holdings in Viper Energy by 4,352.6% during the second quarter. California State Teachers Retirement System now owns 9,668,090 shares of the oil and gas producer’s stock worth $409,927,000 after buying an additional 9,450,957 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Viper Energy during the 2nd quarter worth about $7,347,000. Guardian Wealth Management Inc. increased its stake in shares of Viper Energy by 1.7% in the 2nd quarter. Guardian Wealth Management Inc. now owns 141,567 shares of the oil and gas producer’s stock valued at $6,002,000 after acquiring an additional 2,385 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of Viper Energy by 10.0% in the 2nd quarter. HB Wealth Management LLC now owns 7,031 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.