Raymond James Boosts Viper Energy (NASDAQ:VNOM) Price Target to $62.00

Viper Energy (NASDAQ:VNOM) had its price objective boosted by equities research analysts at Raymond James from $58.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ price objective points to a potential upside of 12.83% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Piper Sandler lifted their target price on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Barclays raised their price target on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm boosted 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. Finally, Truist Financial upped 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 investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Viper Energy Price Performance

Shares of VNOM traded up $0.94 during trading hours on Thursday, reaching $54.95. 185,980 shares of the company traded hands, compared to its average volume of 1,076,200. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.35 billion, a PE ratio of 23.55 and a beta of 1.72. Viper Energy has a fifty-two week low of $29.03 and a fifty-two week high of $56.08. The stock has a fifty day simple moving average of $50.02 and a 200 day simple moving average of $44.12.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. As a group, research analysts predict that Viper Energy will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Several hedge funds have recently bought and sold shares of VNOM. Vanguard Group Inc. increased its stake in Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after purchasing an additional 1,603,333 shares in the last quarter. Capital World Investors grew its holdings in shares of Viper Energy by 16.8% in the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after purchasing an additional 923,276 shares during the last quarter. State Street Corp lifted its stake in Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after acquiring an additional 1,682,183 shares during the period. Epoch Investment Partners Inc. lifted its position in Viper Energy by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock valued at $115,434,000 after buying an additional 496,131 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Viper Energy by 12.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after buying an additional 224,021 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

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.