Evercore ISI Reiterates “Outperform” Rating for Viper Energy (NASDAQ:VNOM)

Evercore ISI reaffirmed their outperform rating on shares of Viper Energy (NASDAQ:VNOM) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage currently has a $49.00 price objective on the oil and gas producer’s stock.

A number of other research analysts have also recently weighed in on the company. Barclays dropped their price target on Viper Energy from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. KeyCorp cut their target price on Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Piper Sandler lowered their price objective on shares of Viper Energy from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Mizuho initiated coverage on Viper Energy in a research report on Monday, March 31st. They issued an “outperform” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.31.

Viper Energy Trading Down 0.8 %

Shares of VNOM opened at $40.56 on Wednesday. Viper Energy has a 52-week low of $34.71 and a 52-week high of $56.76. The stock has a market cap of $8.64 billion, a PE ratio of 17.41 and a beta of 1.05. The firm’s fifty day moving average is $41.44 and its two-hundred day moving average is $47.33. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The business had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $233.99 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. During the same period last year, the firm earned $0.49 earnings per share. Research analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.96%. Viper Energy’s dividend payout ratio (DPR) is currently 31.58%.

Institutional Investors Weigh In On Viper Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Viper Energy in the fourth quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Viper Energy in the 4th quarter valued at about $32,000. Assetmark Inc. lifted its stake in Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 518 shares during the last quarter. UMB Bank n.a. grew its holdings in Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 414 shares during the period. Finally, First Horizon Advisors Inc. increased its position in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.