Viper Energy (NASDAQ:VNOM) Price Target Cut to $54.00 by Analysts at Truist Financial

Viper Energy (NASDAQ:VNOM) had its price objective cut by Truist Financial from $55.00 to $54.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an overweight rating in a report on Tuesday, August 6th. Evercore ISI upped their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an outperform rating in a research report on Monday, July 8th. TD Securities lifted their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, September 12th. Finally, Piper Sandler upped their target price on Viper Energy from $44.00 to $57.00 and gave the company an overweight rating in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $47.43.

Viper Energy Stock Up 1.2 %

Shares of NASDAQ VNOM opened at $46.96 on Monday. 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 company has a 50-day moving average price of $45.36 and a 200-day moving average price of $40.86. The stock has a market capitalization of $8.31 billion, a P/E ratio of 17.26 and a beta of 1.73. Viper Energy has a 1 year low of $26.73 and a 1 year high of $49.37.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. On average, equities research analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.56%. Viper Energy’s payout ratio is 44.12%.

Institutional Trading of Viper Energy

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in Viper Energy by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after acquiring an additional 453 shares during the last quarter. Truist Financial Corp raised its position in shares of Viper Energy by 4.5% in the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock valued at $421,000 after purchasing an additional 488 shares during the period. Aurora Investment Counsel lifted its stake in shares of Viper Energy by 1.5% during the 1st quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock valued at $2,024,000 after buying an additional 757 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in Viper Energy by 12.5% in the 2nd quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after buying an additional 800 shares during the period. Finally, Adalta Capital Management LLC grew its stake in Viper Energy by 13.9% in the 1st quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock valued at $285,000 after buying an additional 905 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

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.