Truist Financial Trims Viper Energy (NASDAQ:VNOM) Target Price to $54.00

Viper Energy (NASDAQ:VNOM) had its price objective cut by equities researchers at Truist Financial from $55.00 to $54.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective indicates a potential upside of 19.92% from the company’s previous close.

A number of other research firms have also recently weighed in on VNOM. Barclays raised their price target on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. TD Securities upped their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Evercore ISI boosted their price objective on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Piper Sandler raised their price objective on shares of Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Viper Energy Price Performance

Viper Energy stock traded up $0.17 during mid-day trading on Monday, hitting $45.03. The stock had a trading volume of 361,904 shares, compared to its average volume of 1,113,665. The firm’s 50 day moving average is $45.13 and its 200 day moving average is $40.68. The firm has a market capitalization of $7.96 billion, a P/E ratio of 16.56 and a beta of 1.73. Viper Energy has a one year low of $26.73 and a one year high of $49.37. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. On average, sell-side analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Viper Energy by 17.3% in the 1st quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock valued at $6,126,000 after buying an additional 23,500 shares during the period. Scout Investments Inc. purchased a new stake in shares of Viper Energy during the fourth quarter valued at $40,808,000. Empowered Funds LLC boosted its stake in Viper Energy by 458.2% in the 1st quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock worth $2,924,000 after purchasing an additional 62,411 shares during the period. Integrated Advisors Network LLC increased its stake in Viper Energy by 118.6% in the 4th quarter. Integrated Advisors Network LLC now owns 66,516 shares of the oil and gas producer’s stock valued at $2,087,000 after buying an additional 36,085 shares during the period. Finally, Sei Investments Co. raised its position in Viper Energy by 81.9% during the first quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after acquiring an additional 20,396 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.