Viper Energy (NASDAQ:VNOM) Price Target Raised to $59.00

Viper Energy (NASDAQ:VNOM) had its price target increased by TD from $58.00 to $59.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, April 13th. Mizuho decreased their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company raised their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Roth Capital reiterated a “buy” rating on shares of Viper Energy in a report on Tuesday. Seventeen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.07.

Viper Energy Stock Down 1.4%

Shares of VNOM opened at $40.82 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.17. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 314.02 and a beta of 0.40. Viper Energy has a 1 year low of $35.10 and a 1 year high of $51.13. The business’s 50 day simple moving average is $43.46 and its 200-day simple moving average is $44.67.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. During the same period last year, the firm posted $0.41 earnings per share. Viper Energy’s revenue for the quarter was up 127.9% compared to the same quarter last year. As a group, equities analysts expect that Viper Energy will post 2.48 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a yield of 266.0%. Viper Energy’s dividend payout ratio is presently 1,169.23%.

Hedge Funds Weigh In On Viper Energy

Large investors have recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC acquired a new stake in Viper Energy in the fourth quarter valued at approximately $1,543,000. Taylor Frigon Capital Management LLC acquired a new position in shares of Viper Energy during the 4th quarter worth approximately $1,637,000. K.J. Harrison & Partners Inc purchased a new position in shares of Viper Energy during the 4th quarter valued at approximately $1,777,000. Oak Thistle LLC acquired a new position in Viper Energy during the fourth quarter worth $1,332,000. Finally, Deprince Race & Zollo Inc. acquired a new position in Viper Energy during the fourth quarter worth $4,493,000. 87.72% of the stock is owned by institutional investors and hedge funds.

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.