Viper Energy (NASDAQ:VNOM) Sets New 12-Month High – Still a Buy?

Viper Energy, Inc. (NASDAQ:VNOMGet Free Report)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $52.08 and last traded at $52.04, with a volume of 353595 shares changing hands. The stock had previously closed at $50.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. Evercore ISI increased their price target on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Piper Sandler increased their price target on shares of Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Barclays increased their price target on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Truist Financial cut their price target on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $47.43.

View Our Latest Stock Report on Viper Energy

Viper Energy Stock Up 3.3 %

The business’s 50 day moving average is $46.58 and its 200-day moving average is $41.50. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 17.84 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06.

Viper Energy (NASDAQ:VNOMGet Free Report) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. On average, sell-side analysts predict that Viper Energy, Inc. will post 1.98 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. Viper Energy’s payout ratio is currently 41.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. GAMMA Investing LLC lifted its holdings in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Viper Energy during the 2nd quarter worth $36,000. Plato Investment Management Ltd raised its holdings in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the period. ORG Partners LLC raised its holdings in shares of Viper Energy by 962.3% during the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after acquiring an additional 2,550 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Viper Energy by 94.4% during the 1st quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 2,019 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

About Viper Energy

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Viper Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viper Energy and related companies with MarketBeat.com's FREE daily email newsletter.