Piper Sandler Forecasts Strong Price Appreciation for Viper Energy (NASDAQ:VNOM) Stock

Viper Energy (NASDAQ:VNOM) had its target price lifted by equities researchers at Piper Sandler from $61.00 to $64.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price indicates a potential upside of 20.23% from the stock’s current price.

A number of other analysts also recently issued reports on VNOM. Truist Financial lifted their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.63.

Viper Energy Price Performance

Shares of VNOM stock opened at $53.23 on Monday. Viper Energy has a 12-month low of $29.03 and a 12-month high of $56.08. The firm has a fifty day moving average of $49.67 and a 200-day moving average of $43.94. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 22.61 and a beta of 1.72. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, equities research analysts forecast that Viper Energy will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of VNOM. Vanguard Group Inc. lifted its position in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after buying an additional 1,603,333 shares during the last quarter. Capital World Investors lifted its position in 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 last quarter. State Street Corp boosted its stake in shares of Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the period. Epoch Investment Partners Inc. grew 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 purchasing an additional 496,131 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Viper Energy by 12.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after acquiring an additional 224,021 shares during the last quarter. 87.72% of the stock is 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.