Truist Financial Forecasts Strong Price Appreciation for Viper Energy (NASDAQ:VNOM) Stock

Viper Energy (NASDAQ:VNOM) had its price target raised by stock analysts at Truist Financial from $57.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price suggests a potential upside of 16.83% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Securities increased their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Piper Sandler lifted their price target on shares of Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Barclays raised their target price on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

Viper Energy Stock Performance

NASDAQ VNOM opened at $54.78 on Wednesday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 23.51 and a beta of 1.72. Viper Energy has a twelve month low of $28.55 and a twelve month high of $56.08. The stock has a fifty day simple moving average of $48.84 and a 200 day simple moving average of $43.21. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.99% and a net margin of 24.65%. The business’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Sell-side analysts expect that Viper Energy will post 2.03 EPS for the current year.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Viper Energy by 23.3% during the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after buying an additional 1,603,333 shares during the last quarter. Capital World Investors grew its stake in shares of Viper Energy by 16.8% in the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after acquiring an additional 923,276 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Viper Energy by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock valued at $115,434,000 after purchasing an additional 496,131 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Viper Energy by 12.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after purchasing an additional 224,021 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in Viper Energy by 48.8% during the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock worth $73,703,000 after purchasing an additional 634,036 shares during the last quarter. 87.72% of the stock is owned by institutional investors.

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.