Piper Sandler Raises Viper Energy (NASDAQ:VNOM) Price Target to $61.00

Viper Energy (NASDAQ:VNOM) had its target price boosted by Piper Sandler from $57.00 to $61.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays boosted their price target on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. TD Securities increased their target price on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Evercore ISI raised their target price on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. 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 research note on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus price target of $48.63.

Viper Energy Price Performance

VNOM stock opened at $51.29 on Tuesday. Viper Energy has a 52-week low of $27.61 and a 52-week high of $52.32. 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 cap of $9.07 billion, a price-to-earnings ratio of 17.57 and a beta of 1.73. The business has a fifty day moving average of $47.36 and a two-hundred day moving average of $41.93.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. During the same period last year, the company earned $0.47 EPS. The company’s quarterly revenue was up 34.8% on a year-over-year basis. As a group, research analysts anticipate that Viper Energy will post 1.98 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.34%. Viper Energy’s payout ratio is 41.10%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 purchasing an additional 460 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Viper Energy in the second quarter valued at $36,000. ORG Partners LLC raised its stake in Viper Energy by 962.3% in the second 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 in the last quarter. Plato Investment Management Ltd lifted its holdings in 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 buying an additional 1,541 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.