Viper Energy (NASDAQ:VNOM) Given New $57.00 Price Target at Truist Financial

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

A number of other analysts have also recently weighed in on VNOM. Barclays raised their price target on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Securities increased their price target 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 boosted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, 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 report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $51.63 on Monday. The business has a 50-day simple moving average of $47.46 and a 200-day simple moving average of $42.08. 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 one year low of $27.61 and a one year high of $52.32. The company has a market cap of $9.13 billion, a PE ratio of 17.68 and a beta of 1.73.

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 net margin of 25.63% and a return on equity of 8.46%. The company had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter in the previous year, the business posted $0.47 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. On average, equities research analysts forecast that Viper Energy will post 1.99 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 41.10%.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Viper Energy by 1,045.4% in the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after acquiring an additional 6,277,324 shares during the period. Capital World Investors increased its holdings in shares of Viper Energy by 16.8% in the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock valued at $246,566,000 after purchasing an additional 923,276 shares during the period. Scout Investments Inc. raised its stake 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 during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 during the period. Finally, Epoch Investment Partners Inc. grew its position in Viper Energy by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock valued at $115,434,000 after buying an additional 496,131 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

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.