Viper Energy (NASDAQ:VNOM) Price Target Raised to $43.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price objective lifted by Piper Sandler from $36.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities analysts also recently issued reports on VNOM. Truist Financial lifted their price target on Viper Energy from $47.00 to $52.00 and gave the company a buy rating in a research note on Friday, April 5th. Barclays started coverage on Viper Energy in a research note on Wednesday, April 10th. They issued an overweight rating and a $44.00 target price on the stock. Raymond James cut their target price on Viper Energy from $38.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Finally, StockNews.com downgraded Viper Energy from a buy rating to a hold rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy currently has a consensus rating of Moderate Buy and a consensus price target of $40.50.

Viper Energy Price Performance

VNOM stock opened at $39.04 on Friday. The company has a market capitalization of $6.90 billion, a P/E ratio of 14.46 and a beta of 1.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.32 and a current ratio of 4.32. Viper Energy has a 52-week low of $24.48 and a 52-week high of $41.22. The business has a 50-day simple moving average of $37.07 and a two-hundred day simple moving average of $32.58.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.20. The business had revenue of $204.70 million during the quarter, compared to the consensus estimate of $204.61 million. Viper Energy had a return on equity of 8.29% and a net margin of 24.17%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Research analysts expect that Viper Energy will post 1.52 EPS for the current fiscal year.

Viper Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a $0.56 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Viper Energy’s previous None dividend of $0.09. Viper Energy’s payout ratio is 40.00%.

Institutional Investors Weigh In On Viper Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Viper Energy by 13.4% during 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Viper Energy by 18.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock valued at $5,697,000 after acquiring an additional 28,800 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Viper Energy by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,827,514 shares of the oil and gas producer’s stock valued at $50,951,000 after acquiring an additional 21,977 shares during the period. GSA Capital Partners LLP bought a new stake in Viper Energy during the 3rd quarter valued at $1,747,000. Finally, Tower Research Capital LLC TRC raised its holdings in Viper Energy by 7,400.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,901 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 15,689 shares during the period. Institutional investors 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.