JPMorgan Chase & Co. Boosts Viper Energy (NASDAQ:VNOM) Price Target to $44.00

Viper Energy (NASDAQ:VNOM) had its target price lifted by analysts at JPMorgan Chase & Co. from $41.00 to $44.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.62% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. TD Securities increased their price target on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Truist Financial reduced their price target on Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler upped their price target on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI upped their price target on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, Barclays increased their target price on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Viper Energy Stock Performance

VNOM traded up $0.22 on Wednesday, reaching $46.62. 266,093 shares of the stock were exchanged, compared to its average volume of 1,116,104. Viper Energy has a fifty-two week low of $26.73 and a fifty-two week high of $49.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The firm has a market capitalization of $8.25 billion, a PE ratio of 17.14 and a beta of 1.73. The company’s 50-day moving average price is $45.25 and its 200 day moving average price is $40.81.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping 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 business had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently made changes to their positions in VNOM. Wellington Management Group LLP boosted its stake in shares of Viper Energy by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after buying an additional 2,246,219 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Viper Energy by 23.3% in the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the period. Capital World Investors grew its stake in Viper Energy by 16.8% in the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after buying an additional 923,276 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Viper Energy by 19.8% in 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 buying an additional 496,131 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Viper Energy by 12.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after acquiring an additional 224,021 shares during the last quarter. 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.