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

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

Several other equities analysts have also recently weighed in on the company. Evercore ISI lifted their price target on Viper Energy from $37.00 to $45.00 and gave the company an outperform rating in a research report on Monday, July 8th. TD Securities lifted 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. Piper Sandler lifted 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. Finally, Barclays lifted 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $47.43.

Viper Energy Stock Performance

Shares of VNOM opened at $48.51 on Monday. The firm has a market cap of $8.58 billion, a PE ratio of 17.83 and a beta of 1.73. The stock’s fifty day moving average price is $45.48 and its two-hundred day moving average price is $40.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. Viper Energy has a 1 year low of $26.73 and a 1 year high of $49.37.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. The firm had revenue of $216.71 million for the quarter, compared to analyst estimates 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 was up 34.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities research analysts forecast that Viper Energy will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

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

Hedge Funds Weigh In On Viper Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of Viper Energy by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after purchasing an additional 453 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Viper Energy by 4.5% in the 2nd quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 488 shares in the last quarter. Aurora Investment Counsel boosted its holdings in shares of Viper Energy by 1.5% in the 1st quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock worth $2,024,000 after purchasing an additional 757 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in shares of Viper Energy by 12.5% in the 2nd 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 in the last quarter. Finally, Adalta Capital Management LLC boosted its holdings in shares of Viper Energy by 13.9% in the 1st quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock worth $285,000 after purchasing an additional 905 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other 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.