Viper Energy (NASDAQ:VNOM) Price Target Raised to $43.00

Viper Energy (NASDAQ:VNOM) had its target price raised by Piper Sandler from $36.00 to $43.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target points to a potential upside of 9.47% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Barclays initiated coverage on shares of Viper Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $44.00 target price on the stock. Raymond James cut their price target on shares of Viper Energy from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. StockNews.com downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Truist Financial upped their target price on shares of Viper Energy from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Viper Energy Price Performance

VNOM stock traded up $0.36 during mid-day trading on Friday, hitting $39.28. The company had a trading volume of 179,227 shares, compared to its average volume of 966,606. The company has a 50-day moving average price of $36.93 and a 200 day moving average price of $32.53. 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 company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 14.58 and a beta of 1.79. Viper Energy has a 12-month low of $24.48 and a 12-month high of $41.22.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.20. The firm had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.61 million. Viper Energy had a net margin of 24.17% and a return on equity of 8.29%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, research analysts anticipate that Viper Energy will post 1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Viper Energy by 13.4% during the third quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock worth $16,741,000 after purchasing an additional 70,815 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Viper Energy by 18.9% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock worth $5,697,000 after purchasing an additional 28,800 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Viper Energy by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,827,514 shares of the oil and gas producer’s stock worth $50,951,000 after purchasing an additional 21,977 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Viper Energy during the third quarter worth $1,747,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Viper Energy by 7,400.5% during the third quarter. Tower Research Capital LLC TRC now owns 15,901 shares of the oil and gas producer’s stock worth $443,000 after purchasing an additional 15,689 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.