Raymond James Raises Viper Energy (NASDAQ:VNOM) Price Target to $62.00

Viper Energy (NASDAQ:VNOM) had its price target increased by equities research analysts at Raymond James from $58.00 to $62.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ price objective indicates a potential upside of 9.64% from the company’s previous close.

VNOM has been the subject of several other research reports. Piper Sandler raised their price target on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Roth Mkm raised their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays upped their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price 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. Finally, Truist Financial raised their price objective on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Viper Energy Stock Performance

Shares of VNOM stock opened at $56.55 on Thursday. The stock has a fifty day moving average price of $50.24 and a 200 day moving average price of $44.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The stock has a market cap of $10.65 billion, a PE ratio of 23.86 and a beta of 1.72. Viper Energy has a 1 year low of $29.03 and a 1 year high of $56.63.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data 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. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the prior year, the company earned $1.10 EPS. The firm’s revenue was down 28.5% on a year-over-year basis. Sell-side analysts forecast that Viper Energy will post 2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fulcrum Equity Management increased its position in shares of Viper Energy by 4.1% in the 3rd quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 375 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Viper Energy by 328.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the period. Arizona State Retirement System boosted its stake in Viper Energy by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 453 shares during the period. Andina Capital Management LLC increased its stake in shares of Viper Energy by 3.8% in the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer’s stock valued at $569,000 after purchasing an additional 459 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 460 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Company Profile

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.