Truist Financial Boosts Viper Energy (NASDAQ:VNOM) Price Target to $53.00

Viper Energy (NASDAQ:VNOM) had its target price raised by Truist Financial from $52.00 to $53.00 in a research report report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently weighed in on VNOM. Piper Sandler lifted their price target on Viper Energy from $36.00 to $43.00 and gave the company an overweight rating in a report on Friday, April 19th. Raymond James lowered their price objective on shares of Viper Energy from $38.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. StockNews.com lowered shares of Viper Energy from a buy rating to a hold rating in a research note on Tuesday, January 9th. TD Securities raised their price objective on shares of Viper Energy from $40.00 to $42.00 and gave the company a buy rating in a research note on Wednesday. Finally, Barclays began coverage on shares of Viper Energy in a research note on Wednesday, April 10th. They set an overweight rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $41.29.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $37.62 on Thursday. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $37.88 and its two-hundred day moving average price is $33.36. Viper Energy has a 52-week low of $24.48 and a 52-week high of $41.22. The stock has a market capitalization of $6.65 billion, a P/E ratio of 13.83 and a beta of 1.78.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.20. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.61 million. Viper Energy had a return on equity of 8.38% and a net margin of 24.24%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, sell-side analysts forecast that Viper Energy will post 1.87 earnings per share for the current year.

Viper Energy Increases Dividend

The firm also recently declared a None dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a $0.59 dividend. This is a positive change from Viper Energy’s previous None dividend of $0.56. The ex-dividend date is Tuesday, May 14th. This represents a yield of 2.9%. Viper Energy’s payout ratio is 39.71%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. WBI Investments LLC acquired a new position in Viper Energy in the first quarter worth approximately $1,955,000. Larson Financial Group LLC grew its position in Viper Energy by 94.4% in the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 2,019 shares during the last quarter. FORA Capital LLC acquired a new position in Viper Energy in the first quarter worth approximately $857,000. BNP Paribas Financial Markets acquired a new position in Viper Energy in the first quarter worth approximately $8,506,000. Finally, Commonwealth Equity Services LLC purchased a new position in Viper Energy during the 1st quarter worth approximately $537,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.