Viper Energy (NASDAQ:VNOM) Price Target Raised to $64.00 at Truist Financial

Viper Energy (NASDAQ:VNOM) had its price target boosted by Truist Financial from $57.00 to $64.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts have also commented on VNOM. JPMorgan Chase & Co. raised their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Piper Sandler boosted their price target on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Barclays increased their price objective on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday. Roth Mkm raised their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.25.

Viper Energy Stock Up 5.3 %

Viper Energy stock opened at $55.42 on Wednesday. Viper Energy has a fifty-two week low of $27.61 and a fifty-two week high of $56.08. 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 firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 23.79 and a beta of 1.72. The company’s 50 day simple moving average is $48.71 and its 200 day simple moving average is $43.13.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. The business had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Viper Energy will post 2.03 EPS for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. Viper Energy’s payout ratio is 51.50%.

Hedge Funds Weigh In On Viper Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Viper Energy by 23.3% during 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 acquiring an additional 1,603,333 shares during the period. Capital World Investors boosted its position in Viper Energy by 16.8% during the first 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 during the period. Scout Investments Inc. increased its holdings in shares of Viper Energy by 48.8% in the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock valued at $73,703,000 after purchasing an additional 634,036 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Viper Energy by 326.0% in the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after purchasing an additional 582,247 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Viper Energy by 19.8% during 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 buying an additional 496,131 shares during the last quarter. 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.