Viper Energy (NASDAQ:VNOM) Hits New 52-Week High After Analyst Upgrade

Viper Energy, Inc. (NASDAQ:VNOM) reached a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $54.00 to $57.00. Truist Financial currently has a buy rating on the stock. Viper Energy traded as high as $52.43 and last traded at $52.24, with a volume of 93291 shares trading hands. The stock had previously closed at $51.63.

VNOM has been the topic of a number of other reports. Barclays upped their price target on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. TD Securities increased their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Piper Sandler upped their price objective on Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Roth Mkm raised their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 460 shares during the period. International Assets Investment Management LLC acquired a new stake in Viper Energy during the 2nd quarter worth approximately $36,000. Plato Investment Management Ltd boosted its position in Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares during the period. ORG Partners LLC increased its position in shares of Viper Energy by 962.3% during the second 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, Allspring Global Investments Holdings LLC acquired a new stake in shares of Viper Energy in the third quarter valued at $144,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $9.27 billion, a PE ratio of 17.83 and a beta of 1.73. The stock has a fifty day moving average of $47.46 and a 200-day moving average of $42.08.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The business had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. Equities analysts anticipate that Viper Energy, Inc. will post 1.99 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Thursday, August 15th. Viper Energy’s payout ratio is currently 41.10%.

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.