Viper Energy (NASDAQ:VNOM) Given New $57.00 Price Target at Truist Financial

Viper Energy (NASDAQ:VNOM) had its price target boosted by analysts at Truist Financial from $54.00 to $57.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price would indicate a potential upside of 8.08% from the stock’s current price.

A number of other research firms have also recently weighed in on VNOM. Roth Mkm boosted their price target on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. 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 boosted their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, TD Securities upped their price objective 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.00.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $52.74 on Monday. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $9.33 billion, a P/E ratio of 18.06 and a beta of 1.73. The firm has a 50-day moving average price of $47.58 and a two-hundred day moving average price of $42.17. Viper Energy has a twelve month low of $27.61 and a twelve month high of $52.89.

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 for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same period last year, the company posted $0.47 EPS. The company’s revenue was up 34.8% on a year-over-year basis. As a group, research analysts expect that Viper Energy will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Viper Energy

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Viper Energy by 23.3% in 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 holdings in Viper Energy by 16.8% in 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 acquiring an additional 923,276 shares during the period. Epoch Investment Partners Inc. boosted its holdings in 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 worth $115,434,000 after acquiring an additional 496,131 shares during the period. Massachusetts Financial Services Co. MA grew its position in Viper Energy by 12.0% in the second 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 acquiring an additional 224,021 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in shares of Viper Energy by 48.8% during the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock valued at $73,703,000 after purchasing an additional 634,036 shares during the period. 87.72% of the stock is owned by hedge funds and other 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.