Viper Energy (NASDAQ:VNOM) Trading Down 3.5%

Viper Energy, Inc. (NASDAQ:VNOM)’s stock price fell 3.5% during trading on Thursday . The company traded as low as $45.37 and last traded at $45.44. 326,979 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,095,820 shares. The stock had previously closed at $47.07.

Analyst Ratings Changes

A number of research firms have commented on VNOM. Evercore ISI lifted their target price on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. TD Securities boosted their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Barclays boosted their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Piper Sandler boosted their price objective on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Truist Financial boosted their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.17.

Viper Energy Price Performance

The company has a market cap of $7.95 billion, a P/E ratio of 17.01 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. The firm’s fifty day moving average is $45.05 and its two-hundred day moving average is $40.52.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. Viper Energy’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, analysts anticipate that Viper Energy, Inc. will post 2.03 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

Institutional Trading of Viper Energy

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Viper Energy by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after purchasing an additional 2,246,219 shares in the last quarter. Vanguard Group Inc. lifted its stake in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares in the last quarter. Capital World Investors lifted its stake in Viper Energy by 16.8% in the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after purchasing an additional 923,276 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Viper Energy by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock worth $115,434,000 after purchasing an additional 496,131 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Viper Energy by 12.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after purchasing an additional 224,021 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.