Piper Sandler Raises Viper Energy (NASDAQ:VNOM) Price Target to $64.00

Viper Energy (NASDAQ:VNOM) had its target price upped by Piper Sandler from $61.00 to $64.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on VNOM. Barclays upped their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm increased their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Securities increased their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Truist Financial lifted their target price on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and an average target price of $51.63.

Viper Energy Price Performance

VNOM opened at $52.69 on Monday. The company has a market capitalization of $9.93 billion, a P/E ratio of 22.61 and a beta of 1.72. The company has a 50-day moving average of $49.55 and a 200-day moving average of $43.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy has a 1-year low of $29.03 and a 1-year high of $56.08.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. During the same period in the previous year, the company earned $1.10 earnings per share. Viper Energy’s quarterly revenue was down 28.5% on a year-over-year basis. Equities analysts expect that Viper Energy will post 2.07 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.28%. Viper Energy’s dividend payout ratio is presently 51.50%.

Institutional Trading of Viper Energy

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC raised its stake 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 valued at $31,000 after purchasing an additional 460 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Viper Energy in the second quarter worth about $36,000. National Bank of Canada FI grew its position in Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,165 shares in the last quarter. Finally, ORG Partners LLC increased its stake in 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 valued at $107,000 after buying an additional 2,550 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Company Profile

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.