TD Has Lowered Expectations for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its target price cut by equities researchers at TD from $59.00 to $58.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. TD’s price target points to a potential upside of 28.15% from the company’s previous close.

A number of other brokerages have also issued reports on VNOM. Truist Financial cut their target price on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday. Raymond James Financial increased their price target on Viper Energy from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their price objective on Viper Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Barclays boosted their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Zacks Research cut shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and an average price target of $57.57.

Viper Energy Price Performance

Shares of NASDAQ VNOM traded up $0.40 during trading on Wednesday, hitting $45.26. The company had a trading volume of 468,324 shares, compared to its average volume of 2,464,407. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13. The business’s 50-day moving average is $44.48 and its 200 day moving average is $44.18. The company has a market cap of $16.25 billion, a P/E ratio of -141.32 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company’s revenue was up 108.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. Equities research analysts predict that Viper Energy will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Viper Energy by 38.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after acquiring an additional 13,218 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock worth $10,872,000 after purchasing an additional 174,684 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Viper Energy by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after purchasing an additional 37,847 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock worth $487,000 after purchasing an additional 3,005 shares during the period. Finally, Guggenheim Capital LLC grew its position in Viper Energy by 6.5% during the second quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock valued at $878,000 after purchasing an additional 1,405 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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.