Viper Energy (NASDAQ:VNOM) Price Target Raised to $62.00

Viper Energy (NASDAQ:VNOM) had its target price increased by Raymond James from $58.00 to $62.00 in a report released on Thursday morning,Benzinga reports. Raymond James currently has an outperform rating on the oil and gas producer’s stock.

A number of other research firms have also weighed in on VNOM. Truist Financial lifted their price objective on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm lifted their price target on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. TD Securities lifted their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Piper Sandler increased their price target on shares of Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $54.75.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $56.55 on Thursday. Viper Energy has a twelve month low of $29.03 and a twelve month high of $56.63. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market cap of $10.65 billion, a PE ratio of 24.27 and a beta of 1.72. The company’s 50 day moving average is $50.52 and its 200 day moving average is $44.43.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business’s quarterly revenue was down 28.5% compared to the same quarter last year. On average, sell-side analysts forecast that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Viper Energy’s dividend payout ratio is currently 51.50%.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in the stock. Fulcrum Equity Management increased its stake in shares of Viper Energy by 4.1% during the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 375 shares in the last quarter. Virtu Financial LLC acquired a new stake in Viper Energy in the 3rd quarter worth about $233,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Viper Energy during the 3rd quarter worth approximately $1,018,000. Sunbelt Securities Inc. raised its holdings in shares of Viper Energy by 19.9% during the third quarter. Sunbelt Securities Inc. now owns 7,426 shares of the oil and gas producer’s stock valued at $335,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after acquiring an additional 234,048 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.