JPMorgan Chase & Co. Boosts Viper Energy (NASDAQ:VNOM) Price Target to $51.00

Viper Energy (NASDAQ:VNOM) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $43.00 to $51.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 0.02% from the company’s previous close.

A number of other analysts have also issued reports on the stock. TD Securities lifted their price objective 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. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. 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 research note on Wednesday, November 6th. Roth Mkm lifted their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Raymond James lifted their price objective on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.90.

Viper Energy Trading Down 2.8 %

NASDAQ VNOM opened at $51.01 on Thursday. Viper Energy has a one year low of $29.16 and a one year high of $56.76. The company’s 50 day moving average price is $52.11 and its 200 day moving average price is $45.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 21.89 and a beta of 1.71.

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, beating the consensus estimate 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 analyst estimates of $210.54 million. During the same quarter last year, the firm posted $1.10 earnings per share. Viper Energy’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, sell-side analysts predict that Viper Energy will post 2.02 EPS for the current year.

Institutional Trading of Viper Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System bought a new stake in shares of Viper Energy in the third quarter worth $984,000. Amalgamated Bank acquired a new position in Viper Energy in the second quarter worth $616,000. Assenagon Asset Management S.A. boosted 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 worth $28,554,000 after purchasing an additional 582,247 shares during the period. Summit Global Investments acquired a new position in Viper Energy in the third quarter worth $706,000. Finally, Louisiana State Employees Retirement System acquired a new position in Viper Energy in the third quarter worth $1,268,000. Institutional investors own 87.72% of the company’s stock.

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.