Viper Energy (NASDAQ:VNOM) Price Target Lowered to $56.00 at TD Securities

Viper Energy (NASDAQ:VNOM) had its price target decreased by analysts at TD Securities from $58.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. TD Securities’ price objective would indicate a potential upside of 46.34% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial reaffirmed an “outperform” rating and set a $57.00 price target (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Piper Sandler upped their price target on Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Evercore ISI raised their price target on Viper Energy from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. William Blair initiated coverage on Viper Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Barclays raised their price target on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Sixteen research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $55.40.

Viper Energy Price Performance

VNOM stock traded down $0.21 during midday trading on Tuesday, reaching $38.27. 400,777 shares of the company’s stock traded hands, compared to its average volume of 1,748,449. The company has a 50-day simple moving average of $38.25 and a two-hundred day simple moving average of $39.70. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 17.75 and a beta of 1.04. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.35 million. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 37.1% on a year-over-year basis. On average, 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 and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Viper Energy by 28.9% in the first quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer’s stock valued at $587,708,000 after acquiring an additional 2,921,832 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Viper Energy by 21.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer’s stock valued at $451,336,000 after acquiring an additional 1,778,093 shares during the period. Alyeska Investment Group L.P. grew its stake in Viper Energy by 763.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,799,642 shares of the oil and gas producer’s stock valued at $81,254,000 after acquiring an additional 1,591,212 shares during the period. Wellington Management Group LLP grew its stake in Viper Energy by 12.2% in the first quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer’s stock valued at $539,719,000 after acquiring an additional 1,301,933 shares during the period. Finally, Merewether Investment Management LP acquired a new position in Viper Energy in the second quarter valued at about $33,973,000. 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.