Viper Energy (NASDAQ:VNOM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Viper Energy (NASDAQ:VNOM) had its price target raised by investment analysts at Piper Sandler from $64.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price indicates a potential upside of 53.55% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, January 21st. Citigroup raised their price objective on Viper Energy from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Morgan Stanley lowered their price objective on Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. TD Securities boosted their price objective on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Barclays decreased their target price on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.71.

Viper Energy Stock Up 1.1%

Shares of VNOM stock traded up $0.48 during mid-day trading on Thursday, hitting $44.29. The company’s stock had a trading volume of 1,362,579 shares, compared to its average volume of 3,258,845. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of -192.58 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.72 and a current ratio of 3.72. Viper Energy has a 52-week low of $34.71 and a 52-week high of $48.00. The business has a 50-day moving average price of $41.62 and a 200 day moving average price of $39.33.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.51 million. During the same period in the previous year, the company earned $2.04 earnings per share. The firm’s quarterly revenue was up 87.6% on a year-over-year basis. Research analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Trading of Viper Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. purchased a new position in Viper Energy in the second quarter valued at about $27,000. Los Angeles Capital Management LLC purchased a new position in shares of Viper Energy in the 4th quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Viper Energy during the third quarter valued at approximately $31,000. Ameriflex Group Inc. acquired a new stake in Viper Energy in the third quarter valued at approximately $38,000. Finally, CoreCap Advisors LLC grew its holdings in Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 906 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.