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

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

Several other equities research analysts have also recently weighed in on VNOM. Roth Mkm increased their price objective on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. TD Securities increased their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Barclays increased their target price on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Viper Energy Trading Up 3.4 %

Shares of VNOM stock opened at $56.55 on Thursday. The stock has a market capitalization of $10.65 billion, a PE ratio of 24.27 and a beta of 1.72. Viper Energy has a 1-year low of $29.03 and a 1-year high of $56.63. The business has a 50-day moving average of $50.52 and a 200 day moving average of $44.33. 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 issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the prior year, the business posted $1.10 EPS. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viper Energy will post 2.03 earnings per share for the current year.

Viper Energy Announces Dividend

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

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in 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 valued at $26,000 after purchasing an additional 450 shares in the last quarter. GAMMA Investing LLC lifted its position in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Viper Energy during the second quarter valued at $36,000. National Bank of Canada FI raised its holdings in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,165 shares during the period. Finally, Plato Investment Management Ltd raised its holdings in Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 1,541 shares during the period. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.