Viper Energy (NASDAQ:VNOM) Raised to Strong-Buy at Zacks Research

Viper Energy (NASDAQ:VNOM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, April 13th. Truist Financial set a $58.00 price objective on shares of Viper Energy in a research report on Wednesday, May 6th. Morgan Stanley raised their price objective on shares of Viper Energy from $44.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Wells Fargo & Company restated an “overweight” rating and issued a $60.00 price objective on shares of Viper Energy in a research report on Monday, April 20th. Finally, Mizuho raised their price objective on shares of Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $56.43.

Viper Energy Trading Up 0.6%

Shares of Viper Energy stock opened at $48.36 on Tuesday. The stock has a market capitalization of $17.29 billion, a P/E ratio of -151.12, a price-to-earnings-growth ratio of 0.97 and a beta of 0.42. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $46.50 and a 200 day simple moving average of $41.96. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $499.82 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm’s revenue for the quarter was up 108.6% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. Research analysts expect that Viper Energy will post 2.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VNOM. Los Angeles Capital Management LLC bought a new position in shares of Viper Energy in the 4th quarter valued at about $27,000. Ameriflex Group Inc. bought a new position in shares of Viper Energy in the 3rd quarter valued at about $38,000. CoreCap Advisors LLC boosted its stake in shares of Viper Energy by 503.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares during the last quarter. Finally, Bogart Wealth LLC bought a new position in shares of Viper Energy in the 3rd quarter valued at about $57,000. Institutional investors own 87.72% of the company’s stock.

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.