Piper Sandler Raises Viper Energy (NASDAQ:VNOM) Price Target to $43.00

Viper Energy (NASDAQ:VNOM) had its target price lifted by Piper Sandler from $36.00 to $43.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also recently issued reports on the company. StockNews.com cut Viper Energy from a buy rating to a hold rating in a report on Tuesday, January 9th. Raymond James decreased their target price on Viper Energy from $38.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Barclays initiated coverage on Viper Energy in a research note on Wednesday, April 10th. They issued an overweight rating and a $44.00 target price on the stock. Finally, Truist Financial upped their target price on Viper Energy from $47.00 to $52.00 and gave the stock a buy rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Viper Energy currently has a consensus rating of Moderate Buy and an average price target of $40.50.

Viper Energy Stock Up 0.3 %

Shares of NASDAQ VNOM opened at $39.14 on Friday. The business’s fifty day moving average price is $37.20 and its 200-day moving average price is $32.73. The stock has a market capitalization of $6.92 billion, a PE ratio of 14.50 and a beta of 1.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.32 and a quick ratio of 4.32. Viper Energy has a one year low of $24.48 and a one year high of $41.22.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.20. The business had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.61 million. Viper Energy had a return on equity of 8.29% and a net margin of 24.17%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, equities research analysts anticipate that Viper Energy will post 1.52 EPS for the current year.

Viper Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Viper Energy’s previous None dividend of $0.09. This represents a yield of 3%. Viper Energy’s dividend payout ratio is currently 40.00%.

Institutional Investors Weigh In On Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Viper Energy by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after buying an additional 2,246,219 shares during the period. Vanguard Group Inc. lifted its holdings in Viper Energy by 1,045.4% in the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after buying an additional 6,277,324 shares during the period. Capital World Investors lifted its holdings in Viper Energy by 7.2% in the 4th quarter. Capital World Investors now owns 5,487,692 shares of the oil and gas producer’s stock worth $172,204,000 after buying an additional 369,463 shares during the period. Epoch Investment Partners Inc. lifted its holdings in Viper Energy by 91.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after buying an additional 1,197,567 shares during the period. Finally, Boston Partners lifted its holdings in Viper Energy by 4.6% in the 4th quarter. Boston Partners now owns 1,837,651 shares of the oil and gas producer’s stock worth $57,481,000 after buying an additional 80,321 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.