Truist Financial Lowers Viper Energy (NASDAQ:VNOM) Price Target to $68.00

Viper Energy (NASDAQ:VNOM) had its target price trimmed by Truist Financial from $78.00 to $68.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group started coverage on Viper Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Evercore ISI lifted their target price on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, StockNews.com upgraded Viper Energy from a “sell” rating to a “hold” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $50.01 on Monday. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 21.46 and a beta of 1.71. Viper Energy has a twelve month low of $31.18 and a twelve month high of $56.76. The company’s fifty day moving average is $49.93 and its 200 day moving average is $48.82. 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) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. Sell-side analysts forecast that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a $0.65 dividend. This is a positive change from Viper Energy’s previous dividend of $0.22. The ex-dividend date is Thursday, March 6th. Viper Energy’s payout ratio is presently 51.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Viper Energy during the fourth quarter valued at approximately $358,000. Oregon Public Employees Retirement Fund grew its position in Viper Energy by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,000 shares of the oil and gas producer’s stock valued at $1,030,000 after purchasing an additional 400 shares during the period. First Horizon Advisors Inc. grew its position in 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. Navellier & Associates Inc. increased its stake in Viper Energy by 5.6% during the 4th quarter. Navellier & Associates Inc. now owns 81,610 shares of the oil and gas producer’s stock valued at $4,005,000 after purchasing an additional 4,300 shares in the last quarter. Finally, O Brien Greene & Co. Inc raised its holdings in Viper Energy by 18.2% during the fourth quarter. O Brien Greene & Co. Inc now owns 8,275 shares of the oil and gas producer’s stock worth $406,000 after buying an additional 1,275 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.