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

Viper Energy (NASDAQ:VNOM) had its price target increased 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 presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 9.30% from the company’s previous close.

Several other equities analysts also recently commented on the company. Piper Sandler increased their price target on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Truist Financial lowered their price objective on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. TD Securities raised their target price on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Barclays lifted their price objective on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Evercore ISI lifted their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.43.

Viper Energy Price Performance

NASDAQ VNOM opened at $48.51 on Wednesday. The company has a 50 day simple moving average of $45.48 and a 200-day simple moving average of $40.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 17.83 and a beta of 1.73. Viper Energy has a 52-week low of $26.73 and a 52-week high of $49.37.

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, topping analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts predict that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Several institutional investors have recently modified their holdings of VNOM. Swiss National Bank grew its position in shares of Viper Energy by 17.3% in the 1st quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock valued at $6,126,000 after purchasing an additional 23,500 shares during the period. Scout Investments Inc. bought a new stake in Viper Energy in the 4th quarter valued at approximately $40,808,000. Empowered Funds LLC lifted its stake in Viper Energy by 458.2% in the 1st quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,924,000 after acquiring an additional 62,411 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of Viper Energy by 118.6% during the 4th quarter. Integrated Advisors Network LLC now owns 66,516 shares of the oil and gas producer’s stock worth $2,087,000 after purchasing an additional 36,085 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Viper Energy by 81.9% during the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock worth $1,743,000 after purchasing an additional 20,396 shares in the last quarter. 87.72% of the stock is currently 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.