Viper Energy (NASDAQ:VNOM) Trading Down 2.8%

Viper Energy, Inc. (NASDAQ:VNOM)’s share price fell 2.8% on Friday . The stock traded as low as $46.87 and last traded at $46.91. 50,899 shares were traded during trading, a decline of 95% from the average session volume of 930,779 shares. The stock had previously closed at $48.26.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Truist Financial increased their target price on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. TD Securities boosted their price target on Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays increased their price objective on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI boosted their target price on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.71.

Viper Energy Stock Performance

The stock has a 50 day moving average price of $42.68 and a two-hundred day moving average price of $39.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 17.50 and a beta of 1.74.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter last year, the company posted $0.47 EPS. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. On average, analysts predict that Viper Energy, Inc. will post 2.08 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Viper Energy by 3,073.2% during the fourth quarter. International Assets Investment Management LLC now owns 63,655 shares of the oil and gas producer’s stock worth $2,029,000 after acquiring an additional 61,649 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Viper Energy by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,221 shares of the oil and gas producer’s stock worth $446,000 after purchasing an additional 2,621 shares during the period. M&T Bank Corp raised its holdings in Viper Energy by 18.2% during the 4th quarter. M&T Bank Corp now owns 42,510 shares of the oil and gas producer’s stock worth $1,334,000 after purchasing an additional 6,546 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Viper Energy by 14.3% during the 4th quarter. Apollon Wealth Management LLC now owns 9,376 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 1,176 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Viper Energy during the 4th quarter worth approximately $350,000. 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.