Viper Energy (NASDAQ:VNOM) Reaches New 12-Month High on Analyst Upgrade

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) reached a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $54.00 to $57.00. Truist Financial currently has a buy rating on the stock. Viper Energy traded as high as $52.43 and last traded at $52.24, with a volume of 93291 shares trading hands. The stock had previously closed at $51.63.

Several other equities analysts have also recently commented on the stock. Barclays lifted their target price on shares of Viper Energy from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 6th. Evercore ISI lifted 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 boosted their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Roth Mkm raised their target price on Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Institutional Investors Weigh In On Viper Energy

Several institutional investors have recently added to or reduced their stakes in VNOM. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Viper Energy by 3.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 314,273 shares of the oil and gas producer's stock valued at $14,177,000 after buying an additional 10,223 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Viper Energy during the 3rd quarter valued at $144,000. Raymond James & Associates lifted its position in shares of Viper Energy by 41.9% during the third quarter. Raymond James & Associates now owns 145,693 shares of the oil and gas producer's stock worth $6,572,000 after acquiring an additional 42,999 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Viper Energy by 0.4% in the third quarter. Stratos Wealth Partners LTD. now owns 122,557 shares of the oil and gas producer's stock worth $5,529,000 after acquiring an additional 528 shares during the period. Finally, Seven Grand Managers LLC purchased a new position in shares of Viper Energy in the third quarter valued at $4,511,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

The business has a 50 day moving average of $47.58 and a 200-day moving average of $42.17. The company has a market capitalization of $9.33 billion, a P/E ratio of 18.06 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share 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%. The company's revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, sell-side analysts predict that Viper Energy, Inc. will post 1.99 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. Viper Energy's dividend payout ratio (DPR) is currently 41.10%.

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.