Barclays Cuts Viper Energy (NASDAQ:VNOM) Price Target to $58.00

Viper Energy (NASDAQ:VNOM) had its target price reduced by Barclays from $60.00 to $58.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities analysts have also weighed in on VNOM. Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Mizuho cut their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Truist Financial reduced their price objective on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Wall Street Zen cut shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, TD lifted their target price on shares of Viper Energy from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.93.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $43.88 on Monday. Viper Energy has a one year low of $35.10 and a one year high of $51.13. The stock has a fifty day moving average of $42.97 and a 200-day moving average of $44.89. The company has a market capitalization of $15.76 billion, a PE ratio of 337.56 and a beta of 0.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The company’s revenue was up 127.9% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. As a group, equities analysts anticipate that Viper Energy will post 2.54 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be issued a dividend of $0.29 per share. This represents a dividend yield of 281.0%. The ex-dividend date is Thursday, August 13th. Viper Energy’s dividend payout ratio (DPR) is currently 1,169.23%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Viper Energy by 38.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after buying an additional 13,218 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock worth $10,872,000 after acquiring an additional 174,684 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Viper Energy by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after acquiring an additional 37,847 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock worth $487,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Viper Energy by 6.5% during the second quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock worth $878,000 after acquiring an additional 1,405 shares in 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.