Viper Energy (NASDAQ:VNOM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Viper Energy (NASDAQ:VNOM - Free Report) had its target price upped by Piper Sandler from $65.00 to $66.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer's stock.

Several other equities analysts also recently weighed in on VNOM. Evercore ISI raised their price target on shares of Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. TD Securities raised their price target on shares of Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Raymond James Financial reissued an "outperform" rating and issued a $60.00 price target (up from $54.00) on shares of Viper Energy in a research note on Thursday, June 5th. KeyCorp decreased their price target on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.46.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $0.65 during midday trading on Thursday, reaching $38.71. The company's stock had a trading volume of 1,442,924 shares, compared to its average volume of 1,418,259. The firm has a market capitalization of $11.17 billion, a PE ratio of 10.19, a P/E/G ratio of 18.01 and a beta of 0.97. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The stock has a fifty day moving average of $39.79 and a 200 day moving average of $43.15. The company has a quick ratio of 8.70, a current ratio of 8.70 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same quarter last year, the business earned $0.49 earnings per share. On average, equities analysts expect that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is currently 31.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Viper Energy in the 4th quarter valued at $1,701,000. Principal Financial Group Inc. raised its position in Viper Energy by 27.6% in the 1st quarter. Principal Financial Group Inc. now owns 302,575 shares of the oil and gas producer's stock valued at $13,661,000 after purchasing an additional 65,375 shares during the last quarter. Amalgamated Bank raised its position in Viper Energy by 21.3% in the 1st quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer's stock valued at $2,705,000 after purchasing an additional 10,529 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Viper Energy by 21.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer's stock valued at $70,117,000 after purchasing an additional 271,337 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its position in Viper Energy by 38.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 25,600 shares of the oil and gas producer's stock valued at $1,156,000 after purchasing an additional 7,100 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

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.