Raymond James Boosts Viper Energy (NASDAQ:VNOM) Price Target to $62.00

Viper Energy (NASDAQ:VNOM) had its price objective hoisted by equities researchers at Raymond James from $58.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ target price indicates a potential upside of 9.64% from the stock’s current price.

Several other research firms also recently weighed in on VNOM. Truist Financial boosted their target price on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. TD Securities raised their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Roth Mkm lifted their target price on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays upped their price target on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $56.55 on Thursday. 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 has a 52 week low of $29.03 and a 52 week high of $56.63. The firm’s 50 day moving average is $50.24 and its two-hundred day moving average is $44.20. The firm has a market capitalization of $10.65 billion, a P/E ratio of 23.86 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same period last year, the firm posted $1.10 EPS. The company’s revenue was down 28.5% on a year-over-year basis. Research analysts forecast that Viper Energy will post 2.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VNOM. New York State Teachers Retirement System purchased a new stake in Viper Energy in the 3rd quarter valued at approximately $984,000. Sei Investments Co. boosted its stake in shares of Viper Energy by 81.9% in the first quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after buying an additional 20,396 shares in the last quarter. Amalgamated Bank acquired a new position in Viper Energy during the second quarter worth $616,000. Vanguard Group Inc. raised its position in 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 acquiring an additional 1,603,333 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Viper Energy by 326.0% in the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after acquiring an additional 582,247 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.