Viper Energy (NASDAQ:VNOM) Given New $47.00 Price Target at Barclays

Viper Energy (NASDAQ:VNOM) had its target price hoisted by Barclays from $44.00 to $47.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other research analysts have also recently issued reports on the company. Truist Financial boosted their target price on Viper Energy from $53.00 to $54.00 and gave the company a buy rating in a research note on Monday, July 22nd. Piper Sandler lifted their price target on Viper Energy from $43.00 to $44.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Evercore ISI lifted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the company an outperform rating in a report on Monday, July 8th. Finally, TD Securities raised their target price on shares of Viper Energy from $40.00 to $42.00 and gave the company a buy rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Viper Energy currently has an average rating of Moderate Buy and a consensus target price of $43.86.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $45.74 on Tuesday. The firm’s 50 day simple moving average is $39.23 and its 200 day simple moving average is $37.41. Viper Energy has a fifty-two week low of $26.71 and a fifty-two week high of $46.00. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 16.82 and a beta of 1.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 3.46.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. As a group, sell-side analysts forecast that Viper Energy will post 1.95 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, August 15th. Viper Energy’s payout ratio is currently 39.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Viper Energy by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock valued at $16,741,000 after acquiring an additional 70,815 shares during the period. Arizona State Retirement System lifted its stake in shares of Viper Energy by 4.4% during the 4th quarter. Arizona State Retirement System now owns 19,266 shares of the oil and gas producer’s stock worth $605,000 after buying an additional 812 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Viper Energy by 3,073.2% during the 4th quarter. International Assets Investment Management LLC now owns 63,655 shares of the oil and gas producer’s stock worth $2,029,000 after buying an additional 61,649 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Viper Energy by 123.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 544,626 shares of the oil and gas producer’s stock worth $17,090,000 after buying an additional 301,288 shares during the period. Finally, ORG Partners LLC grew its stake in Viper Energy by 26.7% in the 4th quarter. ORG Partners LLC now owns 3,230 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 680 shares during the last quarter. 87.72% of the stock is currently owned by 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.