Viper Energy (NASDAQ:VNOM) Hits New 52-Week High at $48.59

Shares of Viper Energy, Inc. (NASDAQ:VNOM) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.59 and last traded at $48.59, with a volume of 17922 shares trading hands. The stock had previously closed at $47.41.

Analyst Ratings Changes

A number of equities analysts have weighed in on VNOM shares. Evercore ISI upped their price target on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. TD Securities lifted their price target on shares of Viper Energy from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Piper Sandler lifted their target price on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Truist Financial boosted their price target on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.71.

Viper Energy Stock Up 2.0 %

The firm has a market cap of $8.55 billion, a P/E ratio of 17.91 and a beta of 1.74. The firm’s 50-day moving average price is $41.51 and its 200 day moving average price is $38.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data 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. The firm had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. Viper Energy’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, equities research analysts expect that Viper Energy, Inc. will post 2.06 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is presently 44.12%.

Institutional Trading of Viper Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Viper Energy by 20.0% in the 4th 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 buying an additional 2,246,219 shares during the period. Vanguard Group Inc. grew its position in shares of Viper Energy by 23.3% during the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after acquiring an additional 1,603,333 shares during the last quarter. Capital World Investors lifted its position 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 purchasing an additional 923,276 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Viper Energy by 19.8% during the 1st 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 period. Finally, Massachusetts Financial Services Co. MA grew its position in 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 worth $78,282,000 after purchasing an additional 224,021 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.