Viper Energy (NASDAQ:VNOM) Price Target Raised to $65.00

Viper Energy (NASDAQ:VNOM) had its target price boosted by KeyCorp from $56.00 to $65.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen raised Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. TD Securities lifted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Barclays reduced their price objective on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Citigroup upped their price objective on shares of Viper Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Viper Energy Stock Performance

Viper Energy stock opened at $46.47 on Thursday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The firm has a market cap of $16.62 billion, a P/E ratio of -202.03, a P/E/G ratio of 1.10 and a beta of 0.50. Viper Energy has a 1-year low of $34.71 and a 1-year high of $49.08. The firm has a 50-day moving average of $44.70 and a 200-day moving average of $40.26.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.51 million. During the same quarter in the previous year, the business earned $2.04 EPS. Viper Energy’s revenue was up 87.6% compared to the same quarter last year. Sell-side analysts expect that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were given a dividend of $0.38 per share. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, March 5th. Viper Energy’s dividend payout ratio is presently -660.87%.

Hedge Funds Weigh In On Viper Energy

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of Viper Energy in the 4th quarter worth about $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in Viper Energy during the third quarter worth about $31,000. Ameriflex Group Inc. purchased a new stake in Viper Energy in the third quarter worth about $38,000. CoreCap Advisors LLC increased its stake in shares of Viper Energy by 503.3% during the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

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.