Viper Energy (NASDAQ:VNOM) Given New $62.00 Price Target at Raymond James

Viper Energy (NASDAQ:VNOM) had its price target raised by Raymond James from $58.00 to $62.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. Roth Mkm boosted their price target on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. TD Securities increased their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Truist Financial upped their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Viper Energy Stock Performance

VNOM opened at $54.65 on Thursday. The firm’s fifty day simple moving average is $50.24 and its two-hundred day simple moving average is $44.20. Viper Energy has a 52-week low of $29.03 and a 52-week high of $56.08. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 23.46 and a beta of 1.72. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same period last year, the company posted $1.10 EPS. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. Equities analysts anticipate that Viper Energy will post 2.03 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. Viper Energy’s dividend payout ratio is currently 51.50%.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 460 shares during the period. International Assets Investment Management LLC acquired a new position in Viper Energy during the 2nd quarter worth about $36,000. National Bank of Canada FI boosted its holdings in Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,165 shares during the period. Finally, Plato Investment Management Ltd grew its position in Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 1,541 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.