Bank of America Begins Coverage on Viper Energy (NASDAQ:VNOM)

Bank of America started coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $64.00 target price on the oil and gas producer’s stock.

VNOM has been the subject of several other reports. Truist Financial raised their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Raymond James lifted their price objective on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Barclays increased their target price on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.78.

Viper Energy Stock Up 0.1 %

Shares of NASDAQ:VNOM opened at $54.26 on Tuesday. The stock’s 50-day moving average is $50.92 and its 200 day moving average is $44.66. The company has a market cap of $10.22 billion, a PE ratio of 23.29 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy has a 1 year low of $29.03 and a 1 year high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was down 28.5% compared to the same quarter last year. Sell-side analysts anticipate that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s payout ratio is 51.50%.

Institutional Trading of Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Fulcrum Equity Management grew its holdings in shares of Viper Energy by 4.1% during the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock valued at $430,000 after buying an additional 375 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 450 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Viper Energy by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after purchasing an additional 453 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Viper Energy by 3.8% in the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer’s stock worth $569,000 after purchasing an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.