Viper Energy (NASDAQ:VNOM) Trading Down 4.5% – Here’s Why

Shares of Viper Energy, Inc. (NASDAQ:VNOM) traded down 4.5% on Wednesday . The stock traded as low as $51.64 and last traded at $51.94. 306,741 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,066,505 shares. The stock had previously closed at $54.37.

Wall Street Analyst Weigh In

VNOM has been the topic of several research reports. The Goldman Sachs Group assumed coverage on Viper Energy in a report on Monday. They issued a “buy” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler raised their price target on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Barclays raised their price target on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, TD Securities lifted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.90.

Viper Energy Trading Down 2.8 %

The company has a 50-day simple moving average of $51.99 and a 200-day simple moving average of $45.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The stock has a market cap of $9.61 billion, a P/E ratio of 21.66 and a beta of 1.71.

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, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the business posted $1.10 earnings per share. On average, sell-side analysts forecast that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.35%. Viper Energy’s dividend payout ratio (DPR) is currently 51.50%.

Hedge Funds Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently bought and sold shares of VNOM. Farther Finance Advisors LLC increased its position in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC boosted its stake in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares during the period. International Assets Investment Management LLC bought a new position in shares of Viper Energy in the second quarter worth $36,000. National Bank of Canada FI grew its stake in Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,165 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,541 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Viper Energy

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.