Viper Energy (NASDAQ:VNOM) Given New $46.00 Price Target at TD Securities

Viper Energy (NASDAQ:VNOM) had its price target raised by TD Securities from $43.00 to $46.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. TD Securities’ price target indicates a potential upside of 3.86% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Truist Financial boosted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI boosted their target price 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. Barclays upped 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. Finally, Piper Sandler increased their price objective on Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Viper Energy Price Performance

Shares of NASDAQ VNOM traded up $1.21 during mid-day trading on Wednesday, reaching $44.29. 491,283 shares of the company were exchanged, compared to its average volume of 952,342. Viper Energy has a 52 week low of $26.71 and a 52 week high of $45.19. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average price is $39.12 and its 200 day moving average price is $37.37. The stock has a market capitalization of $7.83 billion, a PE ratio of 16.39 and a beta of 1.74.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. The business 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 8.10% and a net margin of 24.24%. The business’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that Viper Energy will post 1.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of VNOM. Arizona State Retirement System boosted its holdings in shares of Viper Energy by 2.0% in the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 453 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Viper Energy by 22.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,013 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 547 shares during the period. ORG Partners LLC increased its stake in shares of Viper Energy by 26.7% during the fourth quarter. ORG Partners LLC now owns 3,230 shares of the oil and gas producer’s stock worth $101,000 after acquiring an additional 680 shares during the period. Aurora Investment Counsel lifted its stake in shares of Viper Energy by 1.5% during the first 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 during the period. Finally, Naples Global Advisors LLC raised its stake in Viper Energy by 12.5% during the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 800 shares during the period. 87.72% of the stock is owned by institutional investors.

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.