Viper Energy (NASDAQ:VNOM) Given New $54.00 Price Target at Truist Financial

Viper Energy (NASDAQ:VNOM) had its price target raised by Truist Financial from $53.00 to $54.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued reports about the company. TD Securities raised their price objective on Viper Energy from $40.00 to $42.00 and gave the company a buy rating in a report on Wednesday, May 1st. Evercore ISI boosted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an outperform rating in a report on Monday, July 8th. Barclays assumed coverage on shares of Viper Energy in a report on Wednesday, April 10th. They set an overweight rating and a $44.00 target price on the stock. Finally, Piper Sandler boosted their price target on shares of Viper Energy from $43.00 to $44.00 and gave the stock an overweight rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Viper Energy has an average rating of Moderate Buy and a consensus price target of $42.71.

Viper Energy Price Performance

VNOM stock opened at $42.22 on Monday. The firm has a 50 day simple moving average of $38.52 and a two-hundred day simple moving average of $36.69. The stock has a market cap of $7.47 billion, a PE ratio of 15.52 and a beta of 1.74. Viper Energy has a one year low of $25.78 and a one year high of $43.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.46 and a quick ratio of 3.46.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. The company had revenue of $205.39 million during the quarter, compared to analyst estimates of $200.63 million. Viper Energy had a net margin of 24.24% and a return on equity of 8.10%. On average, analysts predict that Viper Energy will post 1.97 EPS for the current fiscal year.

Viper Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.59 per share. This is a positive change from Viper Energy’s previous None dividend of $0.56. This represents a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 14th. Viper Energy’s dividend payout ratio is currently 39.71%.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Viper Energy by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock valued at $16,741,000 after purchasing an additional 70,815 shares during the period. SG Americas Securities LLC purchased a new stake in Viper Energy in the fourth quarter worth $1,760,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Viper Energy by 18.9% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock worth $5,697,000 after purchasing an additional 28,800 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Viper Energy during the fourth quarter valued at $63,000. Finally, Arizona State Retirement System boosted its holdings in shares of Viper Energy by 4.4% during the 4th quarter. Arizona State Retirement System now owns 19,266 shares of the oil and gas producer’s stock valued at $605,000 after buying an additional 812 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

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.