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

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) 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.

Analyst Ratings Changes

Several equities analysts recently commented on VNOM shares. JPMorgan Chase & Co. dropped their price objective on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company reduced their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, April 21st. The Goldman Sachs Group set a $72.00 price objective on Viper Energy in a report on Monday, March 3rd. Bank of America reduced their price objective on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Finally, Mizuho increased their price objective on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and an average price target of $56.85.

Viper Energy Trading Up 2.8%

The stock has a market cap of $12.27 billion, a PE ratio of 18.25 and a beta of 1.00. The firm has a 50-day simple moving average of $40.50 and a 200-day simple moving average of $45.19. 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 posted its earnings results 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. The firm had revenue of $245.00 million for the quarter, compared to the consensus estimate 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 posted $0.49 earnings per share. Equities analysts forecast that Viper Energy, Inc. will post 2.02 earnings per share for the current 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 given a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Institutional Investors Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Viper Energy in the fourth quarter worth $1,701,000. FORA Capital LLC raised its position in shares of Viper Energy by 196.5% in the fourth quarter. FORA Capital LLC now owns 13,326 shares of the oil and gas producer's stock worth $654,000 after buying an additional 8,831 shares in the last quarter. Barclays PLC raised its position in shares of Viper Energy by 103.3% in the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after buying an additional 22,334 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Viper Energy in the fourth quarter worth $358,000. Finally, GAMMA Investing LLC raised its position in shares of Viper Energy by 6,591.3% in the first quarter. GAMMA Investing LLC now owns 91,068 shares of the oil and gas producer's stock worth $4,112,000 after buying an additional 89,707 shares in the last quarter. Hedge funds and other institutional investors 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.