Viper Energy (NASDAQ:VNOM) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Viper Energy (NASDAQ:VNOM - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other analysts also recently weighed in on the stock. Bank of America cut their price target on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Piper Sandler cut their price target on shares of Viper Energy from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Barclays increased their price target on shares of Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a research note on Monday, March 3rd. Finally, TD Securities increased their target price on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $56.85.

Viper Energy Price Performance

NASDAQ VNOM traded up $1.14 on Friday, hitting $41.33. 1,443,215 shares of the company were exchanged, compared to its average volume of 1,351,283. The firm has a 50 day moving average of $40.32 and a two-hundred day moving average of $45.70. The company has a market cap of $11.93 billion, a P/E ratio of 17.74 and a beta of 1.00. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76.

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 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 business had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities analysts predict that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The firm 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. The ex-dividend date 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 currently 31.58%.

Hedge Funds Weigh In On Viper Energy

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Viper Energy during the 4th quarter worth approximately $1,701,000. FORA Capital LLC boosted its holdings in shares of Viper Energy by 196.5% in the 4th quarter. FORA Capital LLC now owns 13,326 shares of the oil and gas producer's stock valued at $654,000 after buying an additional 8,831 shares during the last quarter. Barclays PLC boosted its holdings in shares of Viper Energy by 103.3% in the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock valued at $1,982,000 after buying an additional 22,334 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Viper Energy in the 4th quarter valued at approximately $358,000. Finally, Rhumbline Advisers boosted its holdings in shares of Viper Energy by 6.4% in the 4th 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 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.