Piper Sandler Boosts Viper Energy (NASDAQ:VNOM) Price Target to $44.00

Viper Energy (NASDAQ:VNOM) had its target price raised by Piper Sandler from $43.00 to $44.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

VNOM has been the subject of several other reports. Barclays began coverage on Viper Energy in a report on Wednesday, April 10th. They issued an overweight rating and a $44.00 price objective for the company. Truist Financial boosted their price target on Viper Energy from $52.00 to $53.00 and gave the company a buy rating in a report on Thursday, May 2nd. TD Securities upped their price target on Viper Energy from $40.00 to $42.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Finally, Evercore ISI lifted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an outperform rating in a report on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $42.57.

Viper Energy Price Performance

VNOM stock opened at $42.93 on Thursday. The company has a market capitalization of $7.59 billion, a PE ratio of 15.78 and a beta of 1.74. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $38.11 and its two-hundred day moving average is $36.46. Viper Energy has a 52-week low of $25.60 and a 52-week high of $43.29.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $205.39 million for the quarter, compared to the consensus estimate of $200.63 million. Viper Energy had a net margin of 24.24% and a return on equity of 8.10%. Analysts predict that Viper Energy will post 1.97 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a dividend of $0.59 per share. This is an increase from Viper Energy’s previous None dividend of $0.56. This represents a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 14th. Viper Energy’s dividend payout ratio is presently 39.71%.

Institutional Investors Weigh In On Viper Energy

A number of hedge funds have recently added to or reduced their stakes in VNOM. Naples Global Advisors LLC grew its position in shares of Viper Energy by 12.5% during the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after acquiring an additional 800 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Viper Energy by 326.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after purchasing an additional 582,247 shares during the period. ORG Partners LLC grew its position in Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after purchasing an additional 2,550 shares during the last quarter. Andina Capital Management LLC increased its stake in shares of Viper Energy by 23.0% in the second quarter. Andina Capital Management LLC now owns 12,153 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 2,271 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in shares of Viper Energy during the second quarter valued at approximately $203,000. 87.72% of the stock is currently 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.