Viper Energy (NASDAQ:VNOM) Price Target Raised to $53.00

Viper Energy (NASDAQ:VNOM) had its target price raised by investment analysts at Truist Financial from $52.00 to $53.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price would suggest a potential upside of 40.88% from the stock’s previous close.

Several other brokerages have also commented on VNOM. TD Securities increased their price objective on Viper Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James dropped their price target 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. StockNews.com downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Barclays began coverage on shares of Viper Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $44.00 price target for the company. Finally, Piper Sandler boosted their price objective on shares of Viper Energy from $36.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.29.

Viper Energy Stock Up 1.3 %

Shares of VNOM traded up $0.47 during trading hours on Thursday, hitting $37.62. The company had a trading volume of 840,551 shares, compared to its average volume of 779,463. Viper Energy has a one year low of $24.48 and a one year high of $41.22. The company’s fifty day moving average price is $37.88 and its two-hundred day moving average price is $33.34. The company has a market capitalization of $6.65 billion, a PE ratio of 13.83 and a beta of 1.78. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.38.

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. Viper Energy had a net margin of 24.24% and a return on equity of 8.38%. The firm had revenue of $204.70 million for the quarter, compared to the consensus estimate of $204.61 million. During the same quarter in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that Viper Energy will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors have recently modified their holdings of VNOM. Vanguard Group Inc. boosted its stake in shares of Viper Energy by 1,045.4% in the fourth 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 last quarter. Wellington Management Group LLP boosted its position 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 purchasing an additional 2,246,219 shares in the last quarter. Scout Investments Inc. acquired a new stake in shares of Viper Energy during the 4th quarter worth approximately $40,808,000. Epoch Investment Partners Inc. increased its holdings in shares of Viper Energy by 91.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock valued at $78,616,000 after purchasing an additional 1,197,567 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in shares of Viper Energy during the 4th quarter valued at approximately $24,448,000. 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.