Viper Energy (NASDAQ:VNOM) Shares Gap Up - Time to Buy?

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $41.37, but opened at $43.05. Viper Energy shares last traded at $42.48, with a volume of 652,318 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and set a $60.00 target price (up from $54.00) on shares of Viper Energy in a research note on Thursday, June 5th. Piper Sandler reduced their price target on shares of Viper Energy from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a report on Monday, March 3rd. KeyCorp lowered their price objective 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, Barclays lifted their price objective on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Viper Energy has an average rating of "Moderate Buy" and an average price target of $57.00.

Viper Energy Stock Performance

The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a market cap of $11.95 billion, a PE ratio of 17.78 and a beta of 1.00. The company has a 50-day simple moving average of $40.50 and a two-hundred day simple moving average of $45.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its 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. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. During the same quarter in the prior year, the firm posted $0.49 EPS. As a group, equities research analysts forecast that Viper Energy, Inc. will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is currently 31.58%.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Savant Capital LLC increased its stake in shares of Viper Energy by 2.1% in the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer's stock worth $706,000 after purchasing an additional 293 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Viper Energy by 1.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the oil and gas producer's stock worth $1,403,000 after acquiring an additional 500 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Viper Energy during the fourth quarter valued at $3,804,000. New York State Teachers Retirement System raised its stake in Viper Energy by 8.3% in the fourth quarter. New York State Teachers Retirement System now owns 23,604 shares of the oil and gas producer's stock worth $1,158,000 after buying an additional 1,800 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Viper Energy by 6.4% during the fourth quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock valued at $13,165,000 after buying an additional 16,172 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

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.