Brokerages Set Viper Energy, Inc. (NASDAQ:VNOM) Target Price at $60.00

Shares of Viper Energy, Inc. (NASDAQ:VNOM) have earned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $60.00.

Several research firms recently issued reports on VNOM. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a report on Friday, December 13th. StockNews.com raised shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Roth Mkm upped their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Raymond James increased their price target on Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Bank of America assumed coverage on Viper Energy in a research report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VNOM. Golden State Wealth Management LLC bought a new position in Viper Energy during the fourth quarter valued at $25,000. Farther Finance Advisors LLC lifted its holdings in shares of Viper Energy by 328.5% in the 3rd 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 lifted its holdings in shares of Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares during the last quarter. National Bank of Canada FI grew its position in Viper Energy by 524.8% in the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in Viper Energy during the fourth quarter worth approximately $94,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Trading Up 1.0 %

Shares of VNOM stock opened at $46.84 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 20.10 and a beta of 1.73. Viper Energy has a 1 year low of $30.56 and a 1 year high of $56.76. The firm has a fifty day moving average price of $50.67 and a 200-day moving average price of $48.62.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. Viper Energy’s revenue for the quarter was down 28.5% on a year-over-year basis. As a group, equities analysts predict that Viper Energy will post 2.01 earnings per share for the current year.

Viper Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s payout ratio is 51.50%.

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.