Viper Energy (NASDAQ:VNOM) Sees Large Volume Increase – Still a Buy?

Viper Energy, Inc. (NASDAQ:VNOM) shares saw strong trading volume on Friday . 3,090,646 shares changed hands during trading, an increase of 223% from the previous session’s volume of 957,240 shares.The stock last traded at $47.07 and had previously closed at $46.24.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Viper Energy from $64.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 13th. 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 report on Thursday, November 21st. Piper Sandler reduced their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group began coverage on shares of Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Viper Energy Trading Up 3.9 %

The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 20.58 and a beta of 1.73. 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 business’s 50-day simple moving average is $50.36 and its 200-day simple moving average is $48.59.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same period in the prior year, the business posted $1.10 earnings per share. Viper Energy’s revenue was down 28.5% compared to the same quarter last year. On average, research analysts expect that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.50%. Viper Energy’s dividend payout ratio is presently 51.50%.

Hedge Funds Weigh In On Viper Energy

Several institutional investors have recently modified their holdings of VNOM. Golden State Wealth Management LLC acquired a new stake in shares of Viper Energy in the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its holdings in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC boosted its position in shares of Viper Energy by 208.1% during the third 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 in the last quarter. National Bank of Canada FI grew its holdings in shares of Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,165 shares during the period. Finally, Versant Capital Management Inc bought a new stake in shares of Viper Energy in the 4th quarter valued at $94,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.