TD Securities Increases Viper Energy (NASDAQ:VNOM) Price Target to $48.00

Viper Energy (NASDAQ:VNOM) had its price objective lifted by TD Securities from $46.00 to $48.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

VNOM has been the topic of several other research reports. Barclays increased their target price on Viper Energy from $44.00 to $47.00 and gave the stock an overweight rating in a research note on Tuesday, August 6th. Evercore ISI raised their price target on Viper Energy from $37.00 to $45.00 and gave the stock an outperform rating in a research note on Monday, July 8th. Piper Sandler lifted their target price on Viper Energy from $44.00 to $57.00 and gave the company an overweight rating in a research note on Thursday, August 15th. Finally, Truist Financial lifted their price objective on Viper Energy from $54.00 to $55.00 and gave the stock a buy rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $48.17.

Viper Energy Price Performance

NASDAQ VNOM opened at $42.97 on Thursday. Viper Energy has a 52 week low of $26.73 and a 52 week high of $49.37. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.80 and a beta of 1.73. The company has a 50-day moving average price of $44.15 and a 200-day moving average price of $40.01. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Equities research analysts anticipate that Viper Energy will post 2.09 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.79%. Viper Energy’s dividend payout ratio is currently 44.12%.

Hedge Funds Weigh In On Viper Energy

A number of hedge funds have recently modified their holdings of VNOM. International Assets Investment Management LLC purchased a new position in Viper Energy in the second quarter valued at about $36,000. Plato Investment Management Ltd lifted its position in shares of Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the period. ORG Partners LLC increased its stake in shares of Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after acquiring an additional 2,550 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Viper Energy by 94.4% in the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 2,019 shares during the period. Finally, Sandia Investment Management LP purchased a new position in shares of Viper Energy in the first quarter worth approximately $192,000. Institutional investors and hedge funds 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.