Viper Energy (NASDAQ:VNOM) Sets New 1-Year High on Analyst Upgrade

Shares of Viper Energy, Inc. (NASDAQ:VNOM) reached a new 52-week high 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.

A number of other analysts have also recently weighed in on VNOM. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. 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. 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. Truist Financial raised their target price on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of 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 worth $26,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC boosted its holdings 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 during the period. International Assets Investment Management LLC acquired a new stake in shares of Viper Energy during the second quarter worth approximately $36,000. National Bank of Canada FI boosted its holdings in shares of Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,165 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in shares of Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 23.86 and a beta of 1.72. The firm’s fifty day moving average is $50.24 and its 200 day moving average is $44.20.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The business 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 firm’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. On average, analysts predict that Viper Energy, Inc. will post 2.03 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, November 14th. Viper Energy’s payout ratio is presently 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.