Evercore ISI resumed coverage of Viper Energy with an Outperform rating and $37 price target. After updating estimates for Q3 actual results and the recent GRP Energy acquisition, the firm sees Viper shares offering a cash return yield at strip “well ahead of E&P peers” assuming a 75% cash flow payout on “a likely somewhat conservative 2024 guide,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VNOM:
- 5 Top Dividend Stocks to Buy Now, According to Analysts – December 2023
- Viper Energy 9.01M share secondary priced at $29.25
- Viper Energy Announces Pricing of Secondary Common Stock Offering by Certain Stockholders and Concurrent Stock Repurchase
- Viper Energy announces offering of 9.02M shares of common stock for holders
- Viper Energy Partners LP, A Subsidiary Of Diamondback Energy, Inc., Reports Third Quarter 2023 Financial And Operating Results; Announces Filing For Conversion Into A Delaware Corporation