Viper Energy (NASDAQ:VNOM) Price Target Raised to $51.00

Viper Energy (NASDAQ:VNOM) had its price target lifted by research analysts at JPMorgan Chase & Co. from $43.00 to $51.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.19% from the company’s current price.

VNOM has been the subject of a number of other research reports. Bank of America assumed coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Raymond James lifted their price target on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group assumed coverage on Viper Energy in a research note on Monday. They issued a “buy” rating and a $70.00 target price on the stock. Piper Sandler increased their price target on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Truist Financial lifted their price target on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $57.90.

Viper Energy Stock Up 1.2 %

Shares of VNOM traded up $0.63 during trading hours on Thursday, hitting $52.68. The stock had a trading volume of 221,853 shares, compared to its average volume of 1,064,886. The firm has a market capitalization of $9.93 billion, a P/E ratio of 22.61 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy has a 1-year low of $29.03 and a 1-year high of $56.76. The firm has a 50 day simple moving average of $51.82 and a 200-day simple moving average of $45.30.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million during 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 company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. Sell-side analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the period. Assenagon Asset Management S.A. raised its holdings in Viper Energy by 326.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after acquiring an additional 582,247 shares during the period. Yaupon Capital Management LP purchased a new stake in shares of Viper Energy during the third quarter worth $18,044,000. Zimmer Partners LP boosted its holdings in shares of Viper Energy by 344.0% in the third quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after acquiring an additional 251,800 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Viper Energy by 16.0% in the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after acquiring an additional 234,048 shares during the period. Institutional investors 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.