Truist Financial Trims Viper Energy (NASDAQ:VNOM) Target Price to $54.00

Viper Energy (NASDAQ:VNOM) had its price target lowered by equities researchers at Truist Financial from $55.00 to $54.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price indicates a potential upside of 19.92% from the stock’s previous close.

A number of other research analysts also recently commented on VNOM. Piper Sandler upped their price objective on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI lifted their target price on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays raised their price target on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, TD Securities raised their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Viper Energy Trading Up 0.4 %

Shares of VNOM stock traded up $0.17 during trading hours on Monday, hitting $45.03. The company had a trading volume of 361,904 shares, compared to its average volume of 1,113,665. The company’s fifty day moving average is $45.13 and its 200 day moving average is $40.68. Viper Energy has a fifty-two week low of $26.73 and a fifty-two week high of $49.37. The stock has a market capitalization of $7.96 billion, a PE ratio of 16.56 and a beta of 1.73. 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 (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. Viper Energy’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Research analysts expect that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its holdings in Viper Energy by 17.3% during the first quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock worth $6,126,000 after buying an additional 23,500 shares during the last quarter. Scout Investments Inc. bought a new position in Viper Energy during the fourth quarter valued at approximately $40,808,000. Empowered Funds LLC grew its stake in shares of Viper Energy by 458.2% during the first quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,924,000 after buying an additional 62,411 shares during the last quarter. Integrated Advisors Network LLC increased its stake in Viper Energy by 118.6% in the 4th quarter. Integrated Advisors Network LLC now owns 66,516 shares of the oil and gas producer’s stock worth $2,087,000 after purchasing an additional 36,085 shares during the period. Finally, Sei Investments Co. raised its holdings in Viper Energy by 81.9% during the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after buying an additional 20,396 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.