Viper Energy (NASDAQ:VNOM) Given New $71.00 Price Target at Truist Financial

Viper Energy (NASDAQ:VNOM) had its target price boosted by Truist Financial from $64.00 to $71.00 in a report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

Several other brokerages have also recently weighed in on VNOM. Bank of America assumed coverage on Viper Energy in a report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective for the company. Piper Sandler cut their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Raymond James raised their target price on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Evercore ISI upped their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Viper Energy Trading Up 2.1 %

VNOM stock opened at $51.42 on Monday. Viper Energy has a 52 week low of $30.21 and a 52 week high of $56.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The company’s 50-day simple moving average is $51.35 and its 200 day simple moving average is $47.93. The company has a market capitalization of $9.69 billion, a PE ratio of 22.07 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Viper Energy will post 2.01 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio is currently 51.50%.

Institutional Investors Weigh In On Viper Energy

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC raised its position in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares during the last quarter. National Bank of Canada FI lifted its holdings in Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,165 shares during the period. Versant Capital Management Inc bought a new stake in shares of Viper Energy in the 4th quarter valued at about $94,000. Finally, Plato Investment Management Ltd raised its position in shares of Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Company Profile

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.