Truist Financial Forecasts Strong Price Appreciation for Viper Energy (NASDAQ:VNOM) Stock

Viper Energy (NASDAQ:VNOM) had its price target increased by Truist Financial from $64.00 to $71.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Bank of America began coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. Roth Mkm upped their target price on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $50.81 on Monday. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 21.81 and a beta of 1.73. The firm’s 50-day moving average is $51.47 and its 200 day moving average is $47.82. Viper Energy has a 1 year low of $30.21 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. Viper Energy’s revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. Sell-side analysts anticipate that Viper Energy will post 2.01 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.36%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio is 51.50%.

Institutional Investors Weigh In On Viper Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after buying an additional 1,682,183 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after acquiring an additional 224,021 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Viper Energy by 16.0% during the 3rd 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. Merewether Investment Management LP boosted its position in shares of Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after acquiring an additional 160,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Viper Energy by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after acquiring an additional 66,222 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.