Viper Energy (NASDAQ:VNOM) Sets New 52-Week High After Analyst Upgrade

Viper Energy, Inc. (NASDAQ:VNOM)’s share price hit a new 52-week high during mid-day trading on Friday after Raymond James raised their price target on the stock from $58.00 to $62.00. Raymond James currently has an outperform rating on the stock. Viper Energy traded as high as $56.12 and last traded at $56.03, with a volume of 389544 shares changing hands. The stock had previously closed at $54.69.

Several other equities research analysts have also issued reports on the stock. Barclays lifted their price target on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. TD Securities increased their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VNOM. Vanguard Group Inc. raised its stake in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after purchasing an additional 1,603,333 shares during the last quarter. Capital World Investors raised its stake in shares of 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 acquiring an additional 923,276 shares during the period. State Street Corp boosted its holdings in Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after acquiring an additional 1,682,183 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Viper Energy by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock valued at $115,434,000 after purchasing an additional 496,131 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Viper Energy by 12.0% in 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 purchasing an additional 224,021 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business’s fifty day simple moving average is $50.24 and its 200 day simple moving average is $44.20. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 23.86 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. On average, research analysts predict that Viper Energy, Inc. will post 2.03 EPS for the current year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is 51.50%.

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.