Viper Energy (NASDAQ:VNOM) PT Raised to $44.00 at JPMorgan Chase & Co.

Viper Energy (NASDAQ:VNOM) had its price objective boosted by analysts at JPMorgan Chase & Co. from $41.00 to $44.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 9.30% from the company’s current price.

A number of other brokerages have also recently commented on VNOM. Piper Sandler boosted their price objective on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Truist Financial reduced their price objective on Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Evercore ISI boosted their price objective on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Barclays boosted their price target on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, TD Securities boosted their price target on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Viper Energy Price Performance

VNOM stock opened at $48.51 on Wednesday. The stock has a 50-day moving average price of $45.48 and a two-hundred day moving average price of $40.91. Viper Energy has a 12-month low of $26.73 and a 12-month high of $49.37. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $8.58 billion, a PE ratio of 17.83 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. As a group, research analysts predict that Viper Energy will post 2.02 EPS for the current year.

Institutional Trading of Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its stake in Viper Energy by 17.3% during the first quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock valued at $6,126,000 after buying an additional 23,500 shares in the last quarter. Scout Investments Inc. bought a new position in shares of Viper Energy during the fourth quarter valued at approximately $40,808,000. Empowered Funds LLC grew its holdings in shares of Viper Energy by 458.2% during the first quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,924,000 after purchasing an additional 62,411 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Viper Energy by 118.6% during the fourth quarter. Integrated Advisors Network LLC now owns 66,516 shares of the oil and gas producer’s stock valued at $2,087,000 after purchasing an additional 36,085 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Viper Energy by 81.9% during the first quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after purchasing an additional 20,396 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.