Raymond James Reaffirms Outperform Rating for Viper Energy (NASDAQ:VNOM)

Raymond James restated their outperform rating on shares of Viper Energy (NASDAQ:VNOM - Free Report) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $60.00 target price on the oil and gas producer's stock, up from their previous target price of $54.00.

VNOM has been the subject of several other reports. Barclays increased their target price on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler reduced their target price on Viper Energy from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Bank of America reduced their target price on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. TD Securities upped their price target on Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Mizuho upped their price target on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.85.

Viper Energy Trading Up 1.7%

VNOM traded up $0.70 on Thursday, reaching $40.89. 90,786 shares of the company's stock were exchanged, compared to its average volume of 1,343,114. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 17.65 and a beta of 1.05. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The company's 50 day moving average is $40.41 and its 200-day moving average is $45.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The firm had revenue of $245.00 million during the quarter, compared to analysts' expectations of $233.99 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. During the same quarter in the prior year, the business earned $0.49 EPS. Equities analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Hedge Funds Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its position in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. Kestra Advisory Services LLC raised its position in Viper Energy by 1.4% during the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer's stock valued at $816,000 after acquiring an additional 249 shares in the last quarter. American Century Companies Inc. raised its position in Viper Energy by 1.1% during the fourth quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer's stock valued at $1,243,000 after acquiring an additional 268 shares in the last quarter. Savant Capital LLC raised its position in Viper Energy by 2.1% during the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer's stock valued at $706,000 after acquiring an additional 293 shares in the last quarter. Finally, Segment Wealth Management LLC raised its position in Viper Energy by 3.9% during the first quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer's stock valued at $430,000 after acquiring an additional 360 shares in 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.