VNOM ...ADDED TO Midcap SP 400 INDEX!!
Posted: Mon Sep 09, 2024 8:48 am
Index funds will have to buy
up 3.32
up 3.32
During August three energy sector analysts updated their price targets for VNOM as follows. They all rate it a BUY.
Barclays 8/18/2024: price target $52.00
Piper Sandler 8/15/2024: price target $57.00
Truist Fin 8/7/2024: price target $55.00
Diamondback's "Mega Merger" with Endeavor Energy (private company) that is expected to close in Q4 will have a BIG positive impact on Viper Energy (VNOM) because Diamondback Energy (FANG) is expected to drop down the minerals owned by Endeavor into Viper. Endeavor owns a lot of minerals and Diamondback's aggressive drilling program will be increasing production on their minerals.
Viper's Q2 2024 production was 47,473 Boepd. My 2025 forecast assumes that Viper's production will average 75,000 Boepd next year.
I am finishing my review of our updated profile on Viper today.