Viper Energy (NASDAQ:VNOM) Price Target Lowered to $63.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its target price trimmed by Piper Sandler from $64.00 to $63.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

Several other equities research analysts have also commented on the company. TD Securities upped their price target on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Truist Financial lifted their target price 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. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.18.

Viper Energy Price Performance

NASDAQ:VNOM opened at $50.24 on Tuesday. Viper Energy has a 12-month low of $30.21 and a 12-month high of $56.76. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 21.56 and a beta of 1.71. The company’s 50-day moving average is $52.45 and its two-hundred day moving average is $46.17. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 28.5% compared to the same quarter last year. Research analysts expect that Viper Energy will post 2.01 EPS for the current year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s payout ratio is 51.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VNOM. State Street Corp raised its position in 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 buying an additional 1,682,183 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after acquiring an additional 224,021 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after purchasing an additional 234,048 shares during the period. Merewether Investment Management LP lifted its position in shares of Viper Energy by 22.9% in the third quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after purchasing an additional 160,600 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Viper Energy by 2.6% in the second quarter. TD Asset Management Inc now owns 841,414 shares of the oil and gas producer’s stock worth $31,578,000 after purchasing an additional 21,420 shares in the last quarter. 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.