Evercore ISI Boosts Viper Energy (NASDAQ:VNOM) Price Target to $51.00

Viper Energy (NASDAQ:VNOM) had its price objective lifted by Evercore ISI from $49.00 to $51.00 in a research note released on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the oil and gas producer’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company cut their target price on Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Piper Sandler reduced their price objective on Viper Energy from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Raymond James reissued an “outperform” rating and issued a $54.00 price objective (up from $52.00) on shares of Viper Energy in a report on Wednesday, May 28th. Mizuho raised their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays lifted their target price on shares of Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. According to MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $56.38.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $40.14 on Wednesday. The company has a fifty day simple moving average of $40.51 and a two-hundred day simple moving average of $45.87. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 17.23 and a beta of 1.05. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76.

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

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.99%. Viper Energy’s payout ratio is 31.58%.

Institutional Trading of Viper Energy

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

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.