Viper Energy (NASDAQ:VNOM) Reaches New 12-Month High on Analyst Upgrade

Viper Energy, Inc. (NASDAQ:VNOM)’s stock price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $53.00 to $54.00. Truist Financial currently has a buy rating on the stock. Viper Energy traded as high as $44.34 and last traded at $44.34, with a volume of 901 shares. The stock had previously closed at $42.93.

A number of other brokerages have also recently issued reports on VNOM. TD Securities upped their price objective on Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays began coverage on Viper Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $44.00 price target on the stock. Evercore ISI increased their price target on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, Piper Sandler increased their price target on Viper Energy from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC acquired a new stake in shares of Viper Energy during the 4th quarter worth $631,000. Swiss National Bank grew its holdings in shares of Viper Energy by 17.3% during the 1st quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock worth $6,126,000 after purchasing an additional 23,500 shares in the last quarter. Scout Investments Inc. acquired a new stake in shares of Viper Energy during the 4th quarter worth $40,808,000. Empowered Funds LLC grew its holdings in shares of Viper Energy by 458.2% during the 1st quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock worth $2,924,000 after purchasing an additional 62,411 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Viper Energy by 118.6% during the 4th quarter. Integrated Advisors Network LLC now owns 66,516 shares of the oil and gas producer’s stock worth $2,087,000 after purchasing an additional 36,085 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 1.3 %

The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.36 and a beta of 1.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.46 and a current ratio of 3.46. The firm has a fifty day moving average price of $38.33 and a 200-day moving average price of $36.61.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. The company had revenue of $205.39 million for the quarter, compared to analyst estimates of $200.63 million. Viper Energy had a return on equity of 8.10% and a net margin of 24.24%. As a group, equities analysts anticipate that Viper Energy, Inc. will post 1.97 EPS for the current year.

Viper Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from Viper Energy’s previous None dividend of $0.56. This represents a yield of 2.9%. Viper Energy’s dividend payout ratio (DPR) is 39.71%.

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.