Viper Energy's (VNOM) "Outperform" Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Viper Energy (NASDAQ:VNOM - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $60.00 target price on the oil and gas producer's stock, up from their previous target price of $54.00.

Several other brokerages have also commented on VNOM. Mizuho boosted their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a report on Monday, March 3rd. TD Securities increased their target price on shares of Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Piper Sandler decreased their price target on Viper Energy from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.85.

Viper Energy Stock Performance

VNOM traded up $1.14 on Thursday, reaching $41.33. The company had a trading volume of 1,443,215 shares, compared to its average volume of 1,354,928. The stock has a 50-day moving average price of $40.32 and a 200-day moving average price of $45.64. The stock has a market capitalization of $11.93 billion, a PE ratio of 17.74 and a beta of 1.00. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.09. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. During the same period last year, the firm posted $0.49 EPS. As a group, research analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. Viper Energy's dividend payout ratio is 31.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in shares of Viper Energy in the 4th quarter valued at approximately $25,000. Quarry LP acquired a new position in Viper Energy during the fourth quarter valued at approximately $32,000. Assetmark Inc. raised its position in shares of Viper Energy by 321.7% in the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 518 shares during the period. UMB Bank n.a. raised its position in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Viper Energy by 43.9% in the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after buying an additional 214 shares during the last quarter. Institutional investors own 87.72% of the company's stock.

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.