Viper Energy (NASDAQ:VNOM) Price Target Raised to $58.00

Viper Energy (NASDAQ:VNOM) had its target price boosted by Barclays from $52.00 to $58.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Piper Sandler increased their price objective on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Evercore ISI increased their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Roth Mkm increased their price objective 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, Truist Financial increased their target price on Viper Energy from $54.00 to $57.00 and gave the company a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

Viper Energy Stock Performance

VNOM opened at $52.63 on Tuesday. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 22.59 and a beta of 1.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. Viper Energy has a 1-year low of $27.61 and a 1-year high of $54.66. The business has a 50 day moving average price of $48.56 and a two-hundred day moving average price of $43.04.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.99% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. Research analysts predict that Viper Energy will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 460 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Viper Energy in the second quarter worth $36,000. ORG Partners LLC increased its stake in shares of Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after acquiring an additional 2,550 shares during the last quarter. Finally, Plato Investment Management Ltd increased its stake in shares of Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,541 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.