Brokerages Set Viper Energy Inc. (NASDAQ:VNOM) PT at $57.00

Shares of Viper Energy Inc. (NASDAQ:VNOM) have received an average rating of “Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $57.00.

Several analysts have recently commented on the stock. KeyCorp dropped their price objective on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. TD Securities boosted their target price on shares of Viper Energy from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Bank of America dropped their price target on shares of Viper Energy from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Evercore ISI lifted their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th.

Viper Energy Price Performance

Shares of VNOM stock opened at $38.59 on Friday. The company has a current ratio of 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 18.51 and a beta of 1.00. The stock has a fifty day simple moving average of $40.85 and a two-hundred day simple moving average of $44.57. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. The firm had revenue of $245.00 million during the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same quarter in the previous year, the business posted $0.49 EPS. On average, analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, May 15th. Viper Energy’s dividend payout ratio (DPR) is presently 31.58%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Viper Energy by 28.9% during the first quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer’s stock worth $587,708,000 after buying an additional 2,921,832 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Viper Energy in the 4th quarter worth approximately $95,505,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Viper Energy by 21.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer’s stock worth $451,336,000 after acquiring an additional 1,778,093 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Viper Energy by 763.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,799,642 shares of the oil and gas producer’s stock worth $81,254,000 after purchasing an additional 1,591,212 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Viper Energy by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer’s stock valued at $539,719,000 after purchasing an additional 1,301,933 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other 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.