Viper Energy (NASDAQ:VNOM) Price Target Raised to $46.00 at TD Securities

Viper Energy (NASDAQ:VNOM) had its price objective increased by TD Securities from $43.00 to $46.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have a buy rating on the oil and gas producer’s stock.

VNOM has been the subject of a number of other reports. Barclays raised their price objective on Viper Energy from $44.00 to $47.00 and gave the company an overweight rating in a research note on Tuesday, August 6th. Piper Sandler raised their price target 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 boosted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a buy rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the company an outperform rating in a research note on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $43.86.

Viper Energy Stock Down 0.7 %

Viper Energy stock opened at $45.42 on Wednesday. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 16.70 and a beta of 1.74. The firm’s fifty day moving average price is $39.52 and its two-hundred day moving average price is $37.57. Viper Energy has a 1-year low of $26.71 and a 1-year high of $46.00. 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 announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. The business had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. On average, equities research analysts predict that Viper Energy will post 1.95 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders 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 yield of 2.64%. The ex-dividend date is Thursday, August 15th. Viper Energy’s payout ratio is 44.12%.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. grew its holdings in Viper Energy by 4.1% during the second quarter. Moors & Cabot Inc. now owns 39,355 shares of the oil and gas producer’s stock valued at $1,477,000 after purchasing an additional 1,545 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after buying an additional 224,021 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Viper Energy by 45.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,102 shares of the oil and gas producer’s stock worth $792,000 after acquiring an additional 6,566 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Viper Energy by 14.0% in the 2nd quarter. American Century Companies Inc. now owns 24,119 shares of the oil and gas producer’s stock valued at $905,000 after acquiring an additional 2,962 shares during the period. 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.