Truist Financial Corp Grows Position in Viper Energy, Inc. (NASDAQ:VNOM)

Truist Financial Corp lifted its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 4.5% in the second quarter, HoldingsChannel.com reports. The firm owned 11,230 shares of the oil and gas producer’s stock after acquiring an additional 488 shares during the quarter. Truist Financial Corp’s holdings in Viper Energy were worth $421,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in Viper Energy by 106.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,194 shares of the oil and gas producer’s stock worth $232,000 after acquiring an additional 3,194 shares in the last quarter. Algert Global LLC acquired a new position in Viper Energy during the 2nd quarter worth about $305,000. Susquehanna Fundamental Investments LLC acquired a new position in Viper Energy during the 2nd quarter worth about $2,881,000. Scientech Research LLC acquired a new position in Viper Energy during the 2nd quarter worth about $239,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Viper Energy by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,497 shares of the oil and gas producer’s stock worth $507,000 after acquiring an additional 1,006 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VNOM shares. Truist Financial decreased their target price on Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Piper Sandler increased their target price on Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays increased their target price on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Roth Mkm increased their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.63.

Viper Energy Price Performance

VNOM stock opened at $51.91 on Friday. 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 firm has a market capitalization of $9.18 billion, a P/E ratio of 17.78 and a beta of 1.73. The business’s 50-day moving average is $47.24 and its two-hundred day moving average is $41.84. Viper Energy, Inc. has a 1 year low of $27.61 and a 1 year high of $52.32.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data 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. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 34.8% on a year-over-year basis. Analysts anticipate that Viper Energy, Inc. will post 1.98 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. Viper Energy’s payout ratio is currently 41.10%.

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.