Viper Energy (NASDAQ:VNOM) Sets New 52-Week High – Time to Buy?

Viper Energy, Inc. (NASDAQ:VNOM) shares reached a new 52-week high during trading on Friday . The stock traded as high as $52.08 and last traded at $52.04, with a volume of 353595 shares changing hands. The stock had previously closed at $50.45.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Securities upped their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Barclays upped their price objective on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Truist Financial reduced their price objective on Viper Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Evercore ISI increased their target price on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Viper Energy Stock Up 3.3 %

The stock has a market capitalization of $9.22 billion, a PE ratio of 17.69 and a beta of 1.73. The firm has a 50 day moving average of $46.34 and a two-hundred day moving average of $41.37. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35.

Viper Energy (NASDAQ:VNOM) last released 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. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. During the same period last year, the business posted $0.47 EPS. Viper Energy’s quarterly revenue was up 34.8% on a year-over-year basis. Equities research analysts anticipate that Viper Energy, Inc. will post 1.98 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio (DPR) is presently 41.10%.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently bought and sold shares of VNOM. Vanguard Group Inc. grew its holdings in Viper Energy by 1,045.4% during the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after buying an additional 6,277,324 shares during the last quarter. Wellington Management Group LLP grew its holdings in Viper Energy by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after buying an additional 2,246,219 shares during the last quarter. Capital World Investors grew its holdings in Viper Energy by 16.8% during the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock valued at $246,566,000 after buying an additional 923,276 shares during the last quarter. Scout Investments Inc. grew its holdings in Viper Energy by 48.8% during the 1st quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock valued at $73,703,000 after buying an additional 634,036 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock worth $28,554,000 after purchasing an additional 582,247 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Company Profile

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.