Viper Energy (NASDAQ:VNOM) Given New $64.00 Price Target at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price target boosted by analysts at Piper Sandler from $61.00 to $64.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price suggests a potential upside of 21.79% from the stock’s previous close.

A number of other brokerages have also issued reports on VNOM. JPMorgan Chase & Co. raised their price target on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. TD Securities raised their price target on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Roth Mkm raised their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Viper Energy Trading Up 3.4 %

NASDAQ:VNOM traded up $1.71 during trading hours on Monday, reaching $52.55. The company’s stock had a trading volume of 161,961 shares, compared to its average volume of 1,082,333. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.55 and a beta of 1.72. The firm has a 50-day simple moving average of $49.55 and a 200-day simple moving average of $43.83. Viper Energy has a 1 year low of $29.03 and a 1 year high of $56.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company’s revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. Research analysts expect that Viper Energy will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VNOM. State Street Corp lifted its position in Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after acquiring an additional 1,682,183 shares during the period. Vanguard Group Inc. lifted its position in Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after acquiring an additional 1,603,333 shares during the period. Capital World Investors lifted its position in Viper Energy by 16.8% during the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock valued at $246,566,000 after acquiring an additional 923,276 shares during the period. Assenagon Asset Management S.A. lifted its position in Viper Energy by 326.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after acquiring an additional 582,247 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Viper Energy by 19.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock valued at $115,434,000 after acquiring an additional 496,131 shares during the period. 87.72% of the stock is 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.