Viper Energy (NASDAQ:VNOM) Reaches New 12-Month High – Time to Buy?

Viper Energy, Inc. (NASDAQ:VNOM)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $49.65 and last traded at $49.51, with a volume of 208827 shares trading hands. The stock had previously closed at $48.51.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VNOM. Barclays lifted their target price on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Piper Sandler boosted their target price on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. TD Securities increased their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Evercore ISI upped their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Viper Energy Stock Performance

The business has a 50 day moving average of $45.48 and a 200-day moving average of $40.91. The company has a market capitalization of $8.83 billion, a P/E ratio of 17.96 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $216.28 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 34.8% on a year-over-year basis. On average, sell-side analysts predict that Viper Energy, Inc. will post 1.99 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s payout ratio is 44.12%.

Institutional Investors Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Viper Energy during the second quarter worth about $36,000. Plato Investment Management Ltd increased its position in shares of Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the last quarter. 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 purchasing an additional 2,550 shares in the last quarter. Larson Financial Group LLC lifted its position in Viper Energy by 94.4% during the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Sandia Investment Management LP purchased a new position in Viper Energy in the 1st quarter worth approximately $192,000. 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.