Viper Energy (NASDAQ:VNOM) PT Raised to $61.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price target raised by Piper Sandler from $57.00 to $61.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective suggests a potential upside of 18.77% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Barclays increased their price objective on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. TD Securities raised their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Evercore ISI lifted their price target on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Truist Financial decreased their price objective on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their target price on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.63.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $51.36 on Tuesday. 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 fifty-two week low of $27.61 and a fifty-two week high of $52.32. The firm has a market cap of $9.08 billion, a PE ratio of 17.59 and a beta of 1.73. The business has a 50 day moving average price of $47.12 and a 200-day moving average price of $41.77.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results 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. The business had revenue of $216.71 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. Equities research analysts predict that Viper Energy will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Grand Managers LLC acquired a new stake in Viper Energy in the third quarter valued at approximately $4,511,000. ORG Partners LLC lifted its holdings in shares of Viper Energy by 17.9% during the 3rd quarter. ORG Partners LLC now owns 3,320 shares of the oil and gas producer’s stock valued at $150,000 after purchasing an additional 505 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of Viper Energy in the 3rd quarter worth $392,000. USA Financial Formulas acquired a new stake in shares of Viper Energy in the 3rd quarter worth $362,000. Finally, GAMMA Investing LLC increased its position in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 460 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.