Viper Energy (NASDAQ:VNOM) Now Covered by The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Viper Energy (NASDAQ:VNOM) in a research note issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $70.00 price target on the oil and gas producer’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 29.37% from the company’s current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Raymond James boosted their price objective on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Bank of America initiated coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price on the stock. Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler boosted their price target on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and an average target price of $57.20.

Viper Energy Stock Up 0.3 %

Shares of NASDAQ VNOM opened at $54.11 on Monday. Viper Energy has a 1 year low of $29.03 and a 1 year high of $56.76. The firm has a 50-day simple moving average of $51.44 and a two-hundred day simple moving average of $45.01. The company has a market cap of $10.19 billion, a P/E ratio of 23.22 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. During the same period last year, the company earned $1.10 EPS. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. Research analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Viper Energy

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. bought a new stake in shares of Viper Energy in the 3rd quarter valued at about $3,037,000. Fulcrum Equity Management lifted its position in Viper Energy by 4.1% during the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 375 shares during the last quarter. Virtu Financial LLC acquired a new stake in Viper Energy in the third quarter valued at approximately $233,000. Teachers Retirement System of The State of Kentucky purchased a new position in Viper Energy in the third quarter worth $1,018,000. Finally, Sunbelt Securities Inc. increased its position in shares of Viper Energy by 19.9% during the third quarter. Sunbelt Securities Inc. now owns 7,426 shares of the oil and gas producer’s stock worth $335,000 after purchasing an additional 1,232 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

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.