Truist Financial Cuts Viper Energy (NASDAQ:VNOM) Price Target to $52.00

Viper Energy (NASDAQ:VNOM) had its target price decreased by Truist Financial from $58.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

VNOM has been the subject of a number of other reports. Raymond James Financial increased their price target on Viper Energy from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research note on Friday, May 29th. They set an “outperform” rating and a $58.00 target price for the company. Wall Street Zen cut shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Barclays lifted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company upped their price target on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.57.

Viper Energy Trading Up 0.9%

Shares of NASDAQ:VNOM opened at $45.27 on Monday. The company has a 50 day moving average of $44.41 and a 200-day moving average of $44.22. 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 firm has a market cap of $16.25 billion, a P/E ratio of -141.46 and a beta of 0.40. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 108.6% on a year-over-year basis. As a group, analysts anticipate that Viper Energy will post 2.42 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. Viper Energy’s payout ratio is presently -475.00%.

Institutional Trading of Viper Energy

Large investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC purchased a new position in shares of Viper Energy during the fourth quarter valued at $52,087,000. Wellington Management Group LLP lifted its stake in Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after acquiring an additional 1,144,863 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in Viper Energy in the 4th quarter worth about $42,550,000. Balyasny Asset Management L.P. lifted its stake in Viper Energy by 7,413.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock worth $42,417,000 after acquiring an additional 1,095,052 shares in the last quarter. Finally, Ninepoint Partners LP boosted its position in Viper Energy by 700.0% during the 4th quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer’s stock worth $46,356,000 after acquiring an additional 1,050,000 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Company Profile

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.