Viper Energy (NASDAQ:VNOM) Sees Unusually-High Trading Volume - Time to Buy?

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 2,778,909 shares traded hands during mid-day trading, an increase of 110% from the previous session's volume of 1,323,847 shares.The stock last traded at $41.37 and had previously closed at $39.97.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VNOM shares. TD Securities upped their target price on shares of Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler reduced their target price on shares of Viper Energy from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their target price 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. Wall Street Zen raised shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Barclays upped their target price on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.85.

Viper Energy Stock Up 2.8%

The firm's 50-day simple moving average is $40.32 and its 200 day simple moving average is $45.64. 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 stock has a market capitalization of $11.93 billion, a P/E ratio of 17.74 and a beta of 1.00.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 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 firm had revenue of $245.00 million for the quarter, compared to analysts' expectations of $233.99 million. During the same period in the previous year, the firm posted $0.49 EPS. As a group, research analysts expect that Viper Energy, Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

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

Institutional Investors Weigh In On Viper Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Viper Energy in the 4th quarter valued at about $25,000. Quarry LP bought a new stake in shares of Viper Energy in the 4th quarter valued at about $32,000. Assetmark Inc. raised its holdings in shares of Viper Energy by 321.7% in the 4th 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. First Horizon Advisors Inc. raised its holdings in shares of Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 214 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Viper Energy by 129.0% in the 1st 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. 87.72% of the stock is owned by institutional investors.

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.