Truist Financial Raises Viper Energy (NASDAQ:VNOM) Price Target to $57.00

Viper Energy (NASDAQ:VNOM) had its price objective lifted by Truist Financial from $54.00 to $57.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

A number of other research firms have also recently weighed in on VNOM. Piper Sandler upped their target price on shares of Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI upped their target price on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays upped their target price on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Roth Mkm upped their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Viper Energy Stock Up 1.4 %

Shares of VNOM opened at $52.46 on Monday. The company has a 50-day simple moving average of $47.78 and a 200-day simple moving average of $42.31. The firm has a market capitalization of $9.28 billion, a P/E ratio of 17.97 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. Viper Energy has a 52 week low of $27.61 and a 52 week high of $52.98.

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, beating analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts expect that Viper Energy will post 1.99 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. Stockholders of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.29%. Viper Energy’s payout ratio is 41.10%.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently modified their holdings of VNOM. Vanguard Group Inc. lifted its position in shares of Viper Energy by 1,045.4% during the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after purchasing an additional 6,277,324 shares in the last quarter. Capital World Investors lifted its position in shares of Viper Energy by 16.8% during the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after purchasing an additional 923,276 shares in the last quarter. Scout Investments Inc. lifted its position in shares of Viper Energy by 48.8% during the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock worth $73,703,000 after purchasing an additional 634,036 shares in the last quarter. Assenagon Asset Management S.A. lifted its position 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 in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Viper Energy by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock worth $115,434,000 after purchasing an additional 496,131 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.