StockNews.com Upgrades Viper Energy (NASDAQ:VNOM) to Hold

Viper Energy (NASDAQ:VNOM) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other analysts have also recently weighed in on the company. Truist Financial raised their price target on Viper Energy from $64.00 to $71.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group assumed coverage on shares of Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 target price for the company. Roth Mkm raised their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped 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. Finally, Barclays raised their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Viper Energy Stock Performance

Viper Energy stock traded up $0.43 during midday trading on Friday, reaching $51.37. The stock had a trading volume of 680,045 shares, compared to its average volume of 809,631. The firm has a market capitalization of $9.68 billion, a PE ratio of 22.05 and a beta of 1.73. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $51.21 and its 200 day moving average price is $48.05.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. As a group, research analysts predict that Viper Energy will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fulcrum Equity Management boosted its position in Viper Energy by 4.1% during the 3rd quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer’s stock valued at $430,000 after buying an additional 375 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Viper Energy by 3.8% during the third quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer’s stock valued at $569,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Viper Energy by 4.5% in the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 488 shares during the last quarter. 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.