Viper Energy (NASDAQ:VNOM) PT Raised to $61.00

Viper Energy (NASDAQ:VNOM) had its price target increased by research analysts at Piper Sandler from $57.00 to $61.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential upside of 18.77% from the stock’s previous close.

VNOM has been the topic of a number of other reports. Evercore ISI boosted their price target on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Barclays upped their price objective on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Truist Financial cut their price target on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. TD Securities upped their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price objective on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.63.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $51.36 on Tuesday. Viper Energy has a 1 year low of $27.61 and a 1 year high of $52.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The business’s 50 day moving average price is $47.12 and its 200-day moving average price is $41.77. The firm has a market capitalization of $9.08 billion, a PE ratio of 17.59 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (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 analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. Viper Energy’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, equities research analysts expect that Viper Energy will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Viper Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank increased its holdings in Viper Energy by 17.3% in the first 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 in the last quarter. Empowered Funds LLC increased 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 valued at $2,924,000 after purchasing an additional 62,411 shares in the last quarter. Sei Investments Co. raised its holdings 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 worth $1,743,000 after purchasing an additional 20,396 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Viper Energy by 139.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 36,100 shares of the oil and gas producer’s stock worth $1,133,000 after purchasing an additional 21,030 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Viper Energy during the second quarter worth $616,000. 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.