Truist Financial Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target upped by stock analysts at Truist Financial from $64.00 to $71.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 40.09% from the company’s previous close.

VNOM has been the topic of a number of other reports. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a report on Friday, December 13th. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Bank of America initiated coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. Finally, Evercore ISI raised their price objective on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Viper Energy Stock Up 2.1 %

NASDAQ:VNOM traded up $1.03 during mid-day trading on Monday, hitting $50.68. 134,428 shares of the company’s stock were exchanged, compared to its average volume of 657,839. Viper Energy has a one year low of $30.21 and a one year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business has a fifty day moving average price of $51.52 and a 200 day moving average price of $47.73. The company has a market cap of $9.55 billion, a PE ratio of 21.75 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. Equities analysts predict that Viper Energy will post 2.01 EPS for the current year.

Institutional Trading of Viper Energy

A number of institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock worth $172,918,000 after purchasing an additional 1,682,183 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Viper Energy by 12.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after purchasing an additional 224,021 shares during the period. Geode Capital Management LLC grew its holdings in shares of Viper Energy by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after purchasing an additional 234,048 shares during the period. Merewether Investment Management LP grew its holdings in shares of Viper Energy by 22.9% during the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after purchasing an additional 160,600 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Viper Energy by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock worth $28,206,000 after purchasing an additional 66,222 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.