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

Viper Energy (NASDAQ:VNOM) had its price objective hoisted by equities research analysts at Truist Financial from $64.00 to $71.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective points to a potential upside of 40.09% from the stock’s previous close.

Several other research firms have also recently commented on VNOM. Evercore ISI increased their target price on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Roth Mkm increased their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Bank of America began coverage on Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target on the stock. Finally, KeyCorp raised Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Viper Energy Stock Up 2.1 %

NASDAQ VNOM traded up $1.03 on Monday, reaching $50.68. The company had a trading volume of 134,428 shares, compared to its average volume of 657,839. The firm has a market capitalization of $9.55 billion, a PE ratio of 21.75 and a beta of 1.73. Viper Energy has a 1 year low of $30.21 and a 1 year high of $56.76. The firm has a 50-day moving average of $51.52 and a 200-day moving average of $47.73. 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 released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. On average, equities research analysts anticipate that Viper Energy will post 2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in Viper Energy in the 4th quarter worth about $242,000. GAMMA Investing LLC increased its stake in Viper Energy by 99.9% in the 4th quarter. GAMMA Investing LLC now owns 1,361 shares of the oil and gas producer’s stock worth $67,000 after purchasing an additional 680 shares in the last quarter. Versant Capital Management Inc purchased a new position in Viper Energy in the 4th quarter worth about $94,000. JPMorgan Chase & Co. increased its stake in Viper Energy by 423.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,515 shares of the oil and gas producer’s stock worth $7,557,000 after purchasing an additional 135,513 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Viper Energy by 3,200.2% in the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock worth $10,615,000 after purchasing an additional 228,177 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

About Viper Energy

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.