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

Viper Energy (NASDAQ:VNOM) had its price target cut by Truist Financial from $55.00 to $54.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts have also weighed in on the company. Evercore ISI boosted 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. Piper Sandler upped their price target on Viper Energy from $44.00 to $57.00 and gave the company an overweight rating in a research report on Thursday, August 15th. Barclays upped their price target on Viper Energy from $44.00 to $47.00 and gave the company an overweight rating in a research report on Tuesday, August 6th. Finally, TD Securities upped their price target on Viper Energy from $46.00 to $48.00 and gave the company a buy rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $47.43.

Viper Energy Trading Up 3.3 %

NASDAQ VNOM opened at $48.51 on Monday. Viper Energy has a 1-year low of $26.73 and a 1-year high of $49.37. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $45.48 and a 200-day moving average of $40.91. The firm has a market cap of $8.58 billion, a PE ratio of 17.83 and a beta of 1.73.

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, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. During the same quarter in the previous year, the company posted $0.47 EPS. Viper Energy’s revenue for the quarter was up 34.8% on a year-over-year basis. As a group, sell-side analysts forecast that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC grew its stake in shares of Viper Energy by 54.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,753,922 shares of the oil and gas producer’s stock worth $55,038,000 after buying an additional 620,470 shares during the last quarter. Capital World Investors increased its holdings in shares of Viper Energy by 7.2% in the 4th quarter. Capital World Investors now owns 5,487,692 shares of the oil and gas producer’s stock worth $172,204,000 after purchasing an additional 369,463 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Viper Energy by 91.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after purchasing an additional 1,197,567 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Viper Energy in the 4th quarter worth $2,264,000. Finally, Scout Investments Inc. bought a new stake in shares of Viper Energy in the fourth quarter worth $40,808,000. Institutional investors 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.