Piper Sandler Has Lowered Expectations for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target cut by Piper Sandler from $64.00 to $63.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on VNOM. The Goldman Sachs Group started coverage on shares of Viper Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price target for the company. JPMorgan Chase & Co. increased their target price on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Raymond James boosted their price target on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. TD Securities increased their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.18.

Viper Energy Stock Down 1.8 %

VNOM opened at $50.24 on Tuesday. Viper Energy has a twelve month low of $30.21 and a twelve month high of $56.76. 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 business has a 50 day moving average price of $52.45 and a 200 day moving average price of $46.17. The firm has a market cap of $9.47 billion, a P/E ratio of 21.56 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue was down 28.5% compared to the same quarter last year. Research analysts forecast that Viper Energy will post 2.01 EPS for the current year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s payout ratio is 51.50%.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in Viper Energy by 4,836.9% in the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock valued at $3,365,000 after acquiring an additional 73,085 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Viper Energy in the third quarter worth about $984,000. Amalgamated Bank bought a new stake in shares of Viper Energy in the second quarter worth about $616,000. Summit Global Investments bought a new stake in shares of Viper Energy in the third quarter worth about $706,000. Finally, Retirement Systems of Alabama bought a new stake in shares of Viper Energy in the third quarter worth about $12,980,000. 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.