Truist Financial Cuts Viper Energy (NASDAQ:VNOM) Price Target to $54.00

Viper Energy (NASDAQ:VNOM) had its price target trimmed by Truist Financial from $55.00 to $54.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Several other equities analysts also recently issued reports on VNOM. TD Securities raised their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company 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 stock an outperform rating in a research report on Monday, July 8th. Barclays upped their price target on Viper Energy from $44.00 to $47.00 and gave the company an overweight rating in a research report on Tuesday, August 6th. Finally, Piper Sandler raised their price objective on Viper Energy from $44.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $47.43.

Viper Energy Trading Up 1.2 %

Shares of VNOM stock opened at $46.96 on Monday. Viper Energy has a twelve month low of $26.73 and a twelve month high of $49.37. The stock’s fifty day simple moving average is $45.36 and its 200 day simple moving average is $40.86. 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 firm has a market capitalization of $8.31 billion, a P/E ratio of 17.26 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its quarterly 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 company had revenue of $216.71 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. Viper Energy’s payout ratio is 44.12%.

Hedge Funds Weigh In On Viper Energy

Several institutional investors have recently added to or reduced their stakes in VNOM. Wellington Management Group LLP lifted its position in shares of Viper Energy by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after acquiring an additional 2,246,219 shares during the period. Vanguard Group Inc. raised its holdings in shares of Viper Energy by 23.3% during the first 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 during the period. Capital World Investors boosted its position in shares of Viper Energy by 16.8% during the 1st 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 in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Viper Energy by 19.8% in the 1st 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 position 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 valued at $78,282,000 after buying an additional 224,021 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.