Viper Energy (NASDAQ:VNOM) Reaches New 1-Year High at $49.33

Viper Energy, Inc. (NASDAQ:VNOM) reached a new 52-week high on Monday . The stock traded as high as $49.33 and last traded at $49.22, with a volume of 539159 shares trading hands. The stock had previously closed at $45.60.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VNOM shares. Barclays increased their target price on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Truist Financial increased their target price on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI increased their target price 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. TD Securities increased their target price on shares of Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their target price on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.83.

Viper Energy Price Performance

The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 17.78 and a beta of 1.73. The company’s 50-day moving average is $43.59 and its 200-day moving average is $39.71.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company’s revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. Equities research analysts expect that Viper Energy, Inc. will post 2.1 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in shares of Viper Energy by 2.0% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 453 shares in the last quarter. Truist Financial Corp boosted its stake in Viper Energy by 4.5% in the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock valued at $421,000 after acquiring an additional 488 shares during the last quarter. Aurora Investment Counsel boosted its stake in Viper Energy by 1.5% in the first quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock valued at $2,024,000 after acquiring an additional 757 shares during the last quarter. Naples Global Advisors LLC boosted its stake in Viper Energy by 12.5% in the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock valued at $270,000 after acquiring an additional 800 shares during the last quarter. Finally, Adalta Capital Management LLC boosted its stake in Viper Energy by 13.9% in the first quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock valued at $285,000 after acquiring an additional 905 shares during the last quarter. Institutional investors and hedge funds 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.