Evercore ISI Boosts Viper Energy (NASDAQ:VNOM) Price Target to $58.00

Viper Energy (NASDAQ:VNOM) had its price objective raised by Evercore ISI from $45.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

Several other analysts also recently weighed in on VNOM. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research report on Friday, December 13th. The Goldman Sachs Group started coverage on shares of Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price objective on the stock. Barclays raised their target price on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Raymond James boosted their price target on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Roth Mkm increased their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and an average target price of $59.36.

Viper Energy Trading Up 0.3 %

NASDAQ VNOM opened at $50.20 on Wednesday. Viper Energy has a 52 week low of $30.21 and a 52 week high of $56.76. The company has a 50 day moving average price of $51.60 and a 200 day moving average price of $47.48. 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 $9.46 billion, a PE ratio of 21.55 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 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 during the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Viper Energy will post 2.01 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio is currently 51.50%.

Hedge Funds Weigh In On Viper Energy

Large investors have recently made changes to their positions in the company. State Street Corp boosted its position in Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after purchasing an additional 1,682,183 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Viper Energy during the 3rd quarter valued at approximately $18,044,000. Retirement Systems of Alabama purchased a new position in shares of Viper Energy during the 3rd quarter valued at approximately $12,980,000. Zimmer Partners LP grew its stake in Viper Energy by 344.0% in the 3rd quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock valued at $14,661,000 after acquiring an additional 251,800 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after acquiring an additional 234,048 shares in the last quarter. 87.72% of the stock is currently 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.