Piper Sandler Increases Viper Energy (NASDAQ:VNOM) Price Target to $64.00

Viper Energy (NASDAQ:VNOM) had its price objective boosted by Piper Sandler from $61.00 to $64.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other research analysts have also recently issued reports on VNOM. StockNews.com cut shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Roth Mkm upped their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their price target on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Truist Financial increased their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

Viper Energy Trading Up 1.2 %

NASDAQ:VNOM opened at $54.65 on Monday. Viper Energy has a 1 year low of $29.03 and a 1 year high of $56.08. The stock’s fifty day moving average price is $50.02 and its two-hundred day moving average price is $44.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market cap of $10.30 billion, a P/E ratio of 23.46 and a beta of 1.72.

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

Viper Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. Viper Energy’s payout ratio is currently 51.50%.

Institutional Trading of Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of VNOM. New York State Teachers Retirement System acquired a new position in Viper Energy during the 3rd quarter worth $984,000. Sei Investments Co. boosted its position in shares of Viper Energy by 81.9% in the first quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock worth $1,743,000 after buying an additional 20,396 shares during the period. Amalgamated Bank acquired a new position in shares of Viper Energy in the 2nd quarter valued at about $616,000. Vanguard Group Inc. lifted its position in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after buying an additional 1,603,333 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Viper Energy by 326.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after buying an additional 582,247 shares during the last quarter. Institutional investors and hedge funds 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.