Bond.az - RBC Capital initiated coverage on Viper Energy (NASDAQ:VNOM) with an Outperform rating and a price target of $58 per share. The broader analyst consensus is 'Buy', with targets ranging from $49 to $65.
The stock has shown strong momentum, gaining 26% over the past six months and trading at $45. RBC analyst Scott Hanold cited the company's scale, core Permian focus, inventory duration, and aligned operating partner as key advantages.
Diamondback Energy operates about 50% of Viper Energy's production and owns 39% of its common stock. Nearly 90 rigs are active across Viper Energy's assets, with an estimated 15-20 year inventory life.
Viper Energy reported strong Q1 2026 results, beating expectations. EPS was $1.22 vs. $0.45 expected, a 171% surprise. Revenue reached $511 million, above the $483.6 million forecast.
The company also announced the pending acquisition of Riverbend Oil & Gas IX for approximately $337 million. Raymond James raised its price target to $61.
