TD Securities Raises Viper Energy (NASDAQ:VNOM) Price Target to $42.00

Viper Energy (NASDAQ:VNOM) had its price target increased by TD Securities from $40.00 to $42.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the oil and gas producer’s stock.

VNOM has been the subject of a number of other research reports. Barclays initiated coverage on Viper Energy in a research report on Wednesday, April 10th. They set an overweight rating and a $44.00 price objective for the company. Piper Sandler increased their price objective on Viper Energy from $36.00 to $43.00 and gave the stock an overweight rating in a report on Friday, April 19th. Truist Financial lifted their target price on shares of Viper Energy from $47.00 to $52.00 and gave the company a buy rating in a research note on Friday, April 5th. StockNews.com downgraded shares of Viper Energy from a buy rating to a hold rating in a research report on Tuesday, January 9th. Finally, 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $41.14.

Viper Energy Stock Down 2.7 %

Shares of Viper Energy stock opened at $37.13 on Wednesday. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.38. Viper Energy has a 1 year low of $24.48 and a 1 year high of $41.22. The stock has a 50-day moving average price of $37.84 and a 200 day moving average price of $33.28. The company has a market cap of $6.57 billion, a P/E ratio of 13.65 and a beta of 1.78.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share 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 analyst estimates of $204.61 million. Viper Energy had a net margin of 24.24% and a return on equity of 8.38%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. As a group, analysts expect that Viper Energy will post 1.74 EPS for the current fiscal year.

Viper Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Viper Energy’s previous None dividend of $0.09. This represents a dividend yield of 3%. Viper Energy’s payout ratio is currently 39.71%.

Hedge Funds Weigh In On Viper Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Viper Energy by 1,045.4% during the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after acquiring an additional 6,277,324 shares in the last quarter. Wellington Management Group LLP raised its position in Viper Energy by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after purchasing an additional 2,246,219 shares during the last quarter. Scout Investments Inc. acquired a new position in Viper Energy in the fourth quarter worth $40,808,000. Epoch Investment Partners Inc. increased its stake in shares of Viper Energy by 91.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock valued at $78,616,000 after buying an additional 1,197,567 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Viper Energy in the fourth quarter valued at about $24,448,000. 87.72% of the stock is owned by institutional investors and hedge funds.

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.