Viper Energy (NASDAQ:VNOM) Receives New Coverage from Analysts at Barclays

Posted by Defense World Staff on Apr 11th, 2024

Barclays started coverage on shares of Viper Energy (NASDAQ:VNOM – Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $44.00 price target on the oil and gas producer’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Viper Energy from a buy rating to a hold rating in a research note on Tuesday, January 9th. Piper Sandler dropped their price objective on shares of Viper Energy from $37.00 to $36.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Truist Financial lifted their price objective on shares of Viper Energy from $47.00 to $52.00 and gave the stock a buy rating in a research note on Friday, April 5th. Finally, Raymond James dropped their price target on shares of Viper Energy from $38.00 to $37.00 and set an outperform rating for the company in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $39.50.

Check Out Our Latest Analysis on VNOM

Viper Energy Stock Performance

VNOM opened at $40.26 on Wednesday. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 14.91 and a beta of 1.79. The company has a fifty day moving average of $35.93 and a 200 day moving average of $32.07. Viper Energy has a fifty-two week low of $24.48 and a fifty-two week high of $40.81. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.32 and a current ratio of 4.32.

Viper Energy (NASDAQ:VNOM – Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.20. Viper Energy had a net margin of 24.17% and a return on equity of 8.29%. The business had revenue of $204.70 million during the quarter, compared to analysts’ expectations of $204.61 million. During the same period last year, the company posted $0.28 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that Viper Energy will post 1.69 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, March 4th. This is a boost from Viper Energy’s previous None dividend of $0.09. This represents a dividend yield of 3%. Viper Energy’s payout ratio is currently 40.00%.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently made changes to their positions in VNOM. Wellington Management Group LLP lifted its holdings in Viper Energy by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after buying an additional 2,246,219 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Viper Energy by 1,045.4% during the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after buying an additional 6,277,324 shares in the last quarter. Capital World Investors lifted its holdings in Viper Energy by 7.2% during the 4th quarter. Capital World Investors now owns 5,487,692 shares of the oil and gas producer’s stock valued at $172,204,000 after buying an additional 369,463 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in Viper Energy by 91.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock valued at $78,616,000 after buying an additional 1,197,567 shares in the last quarter. Finally, Boston Partners lifted its holdings in Viper Energy by 4.6% during the 4th quarter. Boston Partners now owns 1,837,651 shares of the oil and gas producer’s stock valued at $57,481,000 after buying an additional 80,321 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Company Profile

(Get Free Report)

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.