KeyCorp Cuts Viper Energy (NASDAQ:VNOM) Price Target to $54.00

Viper Energy (NASDAQ:VNOM) had its price objective trimmed by KeyCorp from $56.00 to $54.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

VNOM has been the topic of several other research reports. Raymond James Financial reiterated an “outperform” rating and set a $57.00 price target (down previously from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Mizuho lifted their target price on Viper Energy from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. TD Securities boosted their price objective on Viper Energy from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Morgan Stanley assumed coverage on Viper Energy in a report on Monday, August 18th. They issued an “overweight” rating and a $46.00 price target for the company. Finally, Piper Sandler upped their price target on Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $55.80.

Viper Energy Trading Down 4.5%

Shares of VNOM stock opened at $37.28 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 17.47 and a beta of 1.04. The stock has a 50 day simple moving average of $38.05 and a 200-day simple moving average of $40.45. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same period in the prior year, the company posted $0.62 EPS. The business’s quarterly revenue was up 37.1% on a year-over-year basis. On average, equities research analysts expect that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $0.53 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.7%. Viper Energy’s dividend payout ratio is presently 38.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC increased its position in shares of Viper Energy by 1.4% in the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock valued at $816,000 after buying an additional 249 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Viper Energy by 4.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock worth $260,000 after buying an additional 279 shares during the last quarter. Assetmark Inc. boosted its stake in Viper Energy by 48.7% in the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 350 shares during the last quarter. Segment Wealth Management LLC raised its holdings in shares of Viper Energy by 3.9% in the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 360 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Viper Energy by 9.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 4,117 shares of the oil and gas producer’s stock worth $157,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.