Viper Energy (NASDAQ:VNOM) Price Target Raised to $47.00 at Barclays

Viper Energy (NASDAQ:VNOM) had its price objective boosted by Barclays from $44.00 to $47.00 in a research note published on Tuesday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI upped their target price on shares of Viper Energy from $37.00 to $45.00 and gave the company an outperform rating in a report on Monday, July 8th. Piper Sandler boosted their target price on shares of Viper Energy from $43.00 to $44.00 and gave the company an overweight rating in a research report on Thursday, July 18th. Truist Financial upped their price objective on Viper Energy from $53.00 to $54.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, TD Securities increased their price objective on shares of Viper Energy from $40.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, May 1st. One investment 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 an average rating of Moderate Buy and a consensus price target of $43.86.

Viper Energy Stock Down 0.7 %

Shares of Viper Energy stock traded down $0.32 during trading on Tuesday, reaching $45.42. The stock had a trading volume of 596,315 shares, compared to its average volume of 955,257. The stock has a fifty day moving average price of $39.52 and a two-hundred day moving average price of $37.57. Viper Energy has a 52 week low of $26.71 and a 52 week high of $46.00. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 16.70 and a beta of 1.74. The company has a current ratio of 7.06, a quick ratio of 3.46 and a debt-to-equity ratio of 0.35.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same period in the previous year, the business earned $0.47 EPS. The company’s revenue was up 34.8% compared to the same quarter last year. Sell-side analysts predict that Viper Energy will post 1.95 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

Institutional Investors Weigh In On Viper Energy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Viper Energy by 1,045.4% during 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 purchasing an additional 6,277,324 shares in the last quarter. Wellington Management Group LLP grew its holdings in Viper Energy by 20.0% during the fourth quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after purchasing an additional 2,246,219 shares during the period. Scout Investments Inc. bought a new position in shares of Viper Energy during the 4th quarter worth $40,808,000. Epoch Investment Partners Inc. increased its stake in shares of Viper Energy by 91.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after purchasing an additional 1,197,567 shares in the last quarter. Finally, Capital World Investors grew its stake in 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 valued at $246,566,000 after buying an additional 923,276 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.