Viper Energy (NASDAQ:VNOM) Stock Rating Upgraded by Wall Street Zen

Viper Energy (NASDAQ:VNOM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms also recently weighed in on VNOM. Jefferies Financial Group began coverage on Viper Energy in a research report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target on the stock. Barclays raised their price objective on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. TD Securities set a $54.00 price target on shares of Viper Energy in a research report on Tuesday, September 30th. Finally, Morgan Stanley lowered their price objective on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.20.

Viper Energy Trading Up 0.4%

Shares of Viper Energy stock opened at $38.78 on Friday. Viper Energy has a 1 year low of $34.71 and a 1 year high of $52.10. The firm has a market cap of $13.94 billion, a PE ratio of 16.02, a PEG ratio of 23.18 and a beta of 0.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88. The company has a 50 day simple moving average of $38.02 and a two-hundred day simple moving average of $38.07.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 98.1% compared to the same quarter last year. Analysts expect that Viper Energy will post 2.02 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 VNOM. Beacon Pointe Advisors LLC bought a new stake in Viper Energy during the second quarter worth about $608,000. JPMorgan Chase & Co. lifted its holdings in shares of Viper Energy by 15.1% during the second quarter. JPMorgan Chase & Co. now owns 303,909 shares of the oil and gas producer’s stock valued at $11,588,000 after purchasing an additional 39,867 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Viper Energy by 3.9% during the second quarter. Public Employees Retirement System of Ohio now owns 41,242 shares of the oil and gas producer’s stock valued at $1,573,000 after purchasing an additional 1,532 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Viper Energy in the 2nd quarter worth approximately $505,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of Viper Energy by 6.1% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,711,181 shares of the oil and gas producer’s stock worth $65,247,000 after buying an additional 98,742 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.