Viper Energy (NASDAQ:VNOM) Stock Price Expected to Rise, Raymond James Analyst Says

Viper Energy (NASDAQ:VNOM) had its target price lifted by analysts at Raymond James from $58.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ price target suggests a potential upside of 12.83% from the stock’s current price.

A number of other brokerages have also recently commented on VNOM. JPMorgan Chase & Co. upped their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Piper Sandler lifted their price objective on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial lifted their price objective on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Securities boosted their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Roth Mkm upped their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Viper Energy Stock Performance

Shares of Viper Energy stock traded up $0.94 during midday trading on Thursday, hitting $54.95. The company had a trading volume of 185,980 shares, compared to its average volume of 1,076,200. 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 current ratio of 7.24 and a quick ratio of 7.24. The business’s 50 day simple moving average is $50.02 and its two-hundred day simple moving average is $44.12. The stock has a market cap of $10.35 billion, a PE ratio of 23.55 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the business earned $1.10 EPS. The business’s quarterly revenue was down 28.5% on a year-over-year basis. As a group, equities analysts predict that Viper Energy will post 2.03 EPS for the current fiscal year.

Institutional Trading of Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VNOM. New York State Teachers Retirement System acquired a new stake in shares of Viper Energy during the 3rd quarter worth approximately $984,000. Sei Investments Co. increased its stake in shares of Viper Energy by 81.9% in the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock worth $1,743,000 after acquiring an additional 20,396 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Viper Energy in the second quarter worth approximately $616,000. Vanguard Group Inc. increased its position in Viper Energy by 23.3% in the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Viper Energy by 326.0% during the second 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 purchasing an additional 582,247 shares during the period. 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.