Viper Energy Inc. (NASDAQ:VNOM) Receives Consensus Recommendation of “Buy” from Brokerages

Viper Energy Inc. (NASDAQ:VNOM) has received a consensus rating of “Buy” from the seventeen analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $56.50.

A number of equities research analysts have weighed in on VNOM shares. Mizuho lifted their price objective on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Barclays boosted their target price on Viper Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen raised Viper Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Truist Financial set a $58.00 target price on Viper Energy in a report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on Viper Energy from $44.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, March 27th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mountain Lake Investment Management LLC bought a new position in Viper Energy in the 3rd quarter worth approximately $9,853,000. Principal Financial Group Inc. raised its position in Viper Energy by 26.1% in the 3rd quarter. Principal Financial Group Inc. now owns 374,739 shares of the oil and gas producer’s stock worth $14,323,000 after purchasing an additional 77,519 shares during the last quarter. Citigroup Inc. raised its position in Viper Energy by 58.7% in the 3rd quarter. Citigroup Inc. now owns 198,093 shares of the oil and gas producer’s stock worth $7,571,000 after purchasing an additional 73,303 shares during the last quarter. Titleist Asset Management LLC raised its position in Viper Energy by 958.9% in the 3rd quarter. Titleist Asset Management LLC now owns 223,426 shares of the oil and gas producer’s stock worth $8,539,000 after purchasing an additional 202,326 shares during the last quarter. Finally, Bornite Capital Management LP bought a new position in Viper Energy in the 3rd quarter worth approximately $38,220,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Price Performance

NASDAQ VNOM opened at $48.98 on Wednesday. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $46.64 and its two-hundred day moving average is $42.12. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of -153.06 and a beta of 0.42. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $499.82 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company’s quarterly revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Equities analysts forecast that Viper Energy will post 2.43 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, May 14th. Viper Energy’s payout ratio is presently -475.00%.

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.