Viper Energy (NASDAQ:VNOM) Price Target Cut to $54.00 by Analysts at Truist Financial

Viper Energy (NASDAQ:VNOM) had its target price cut by Truist Financial from $55.00 to $54.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other brokerages also recently issued reports on VNOM. Barclays increased their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an overweight rating in a research note on Tuesday, August 6th. TD Securities increased their price target on shares of Viper Energy from $46.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, September 12th. 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, Evercore ISI raised their target price on Viper Energy from $37.00 to $45.00 and gave the company an outperform rating in a report on Monday, July 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $48.00.

Viper Energy Stock Up 0.6 %

NASDAQ VNOM opened at $45.11 on Monday. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 16.56 and a beta of 1.73. The company has a 50 day moving average of $45.13 and a 200-day moving average of $40.68. Viper Energy has a 1-year low of $26.73 and a 1-year high of $49.37.

Viper Energy (NASDAQ:VNOM) last announced 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. The firm had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities research analysts expect that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, August 15th. Viper Energy’s payout ratio is 44.12%.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Viper Energy during the 2nd quarter worth approximately $36,000. Plato Investment Management Ltd lifted its holdings in Viper Energy by 119.2% during the 2nd 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 during the period. ORG Partners LLC increased its stake in shares of Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 2,550 shares during the period. Larson Financial Group LLC raised its position in shares of Viper Energy by 94.4% during the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 2,019 shares during the last quarter. Finally, Sandia Investment Management LP acquired a new position in shares of Viper Energy in the first quarter worth approximately $192,000. 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.