Viper Energy (NASDAQ:VNOM) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of Viper Energy (NASDAQ:VNOM) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $64.00 price target on the oil and gas producer’s stock.

A number of other analysts have also recently commented on the stock. Barclays boosted their target price on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler upped their price objective on shares of Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. 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. Raymond James upped their price objective on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Roth Mkm upped their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

Viper Energy Stock Down 0.6 %

VNOM stock opened at $53.94 on Tuesday. The stock has a market capitalization of $10.16 billion, a P/E ratio of 23.15 and a beta of 1.72. The firm has a 50-day simple moving average of $51.27 and a 200-day simple moving average of $44.79. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 52 week low of $29.03 and a 52 week high of $56.76.

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, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 earnings per share. Equities analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.22%. Viper Energy’s payout ratio is 51.50%.

Hedge Funds Weigh In On Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,603,333 shares during the last quarter. State Street Corp lifted its holdings in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after acquiring an additional 1,682,183 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 worth $78,282,000 after acquiring an additional 224,021 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after acquiring an additional 234,048 shares during the last quarter. Finally, Merewether Investment Management LP lifted its holdings in shares of Viper Energy by 22.9% in the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after acquiring an additional 160,600 shares during the last quarter. 87.72% of the stock is currently 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.