Viper Energy (NASDAQ:VNOM) Reaches New 12-Month High Following Analyst Upgrade

Viper Energy, Inc. (NASDAQ:VNOM)’s share price reached a new 52-week high during trading on Friday after Raymond James raised their price target on the stock from $58.00 to $62.00. Raymond James currently has an outperform rating on the stock. Viper Energy traded as high as $56.12 and last traded at $56.03, with a volume of 389544 shares. The stock had previously closed at $54.69.

Other equities research analysts have also issued research reports about the stock. Barclays increased their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler increased their price target on shares of Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. TD Securities raised their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. upped 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. Finally, Truist Financial increased their price objective on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors have recently made changes to their positions in VNOM. Fulcrum Equity Management boosted its holdings in Viper Energy by 4.1% during the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock worth $430,000 after buying an additional 375 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 during the period. Arizona State Retirement System increased its stake in Viper Energy by 2.0% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 453 shares in the last quarter. Andina Capital Management LLC raised its holdings in Viper Energy by 3.8% in the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer’s stock worth $569,000 after purchasing an additional 459 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Stock Up 3.4 %

The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $50.52 and its 200-day moving average price is $44.33. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 24.27 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the previous year, the firm earned $1.10 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. Sell-side analysts predict that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Dividend Announcement

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

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.