Raymond James Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price objective upped by Raymond James from $58.00 to $62.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

VNOM has been the subject of a number of other research reports. TD Securities lifted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Truist Financial boosted their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays raised their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler raised their target price on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.75.

Viper Energy Stock Up 1.2 %

Shares of NASDAQ VNOM opened at $54.65 on Thursday. The stock has a market cap of $10.30 billion, a P/E ratio of 23.46 and a beta of 1.72. The business’s fifty day simple moving average is $50.24 and its 200-day simple moving average is $44.20. Viper Energy has a 12-month low of $29.03 and a 12-month high of $56.08. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last posted 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 company had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. As a group, equities analysts predict that Viper Energy will post 2.03 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio is currently 51.50%.

Hedge Funds Weigh In On Viper Energy

A number of hedge funds have recently modified their holdings of VNOM. Fulcrum Equity Management boosted its stake in Viper Energy by 4.1% during the 3rd quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 375 shares during the period. Virtu Financial LLC purchased a new stake in shares of Viper Energy in the third quarter valued at about $233,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Viper Energy during the third quarter worth about $1,018,000. Sunbelt Securities Inc. grew its holdings in shares of Viper Energy by 19.9% during the third quarter. Sunbelt Securities Inc. now owns 7,426 shares of the oil and gas producer’s stock worth $335,000 after buying an additional 1,232 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after acquiring an additional 234,048 shares during the period. 87.72% of the stock is currently owned by hedge funds and other 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.