Viper Energy (NASDAQ:VNOM) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Viper Energy from “Buy” to “Hold,” though the broader analyst consensus remains “Buy,” with an average price target of $56.56.
• Viper Energy shares opened at $47.68, with a market capitalization of $17.13 billion and a 12-month trading range of $35.10 to $51.13.
• The company reported quarterly EPS of $0.76, in line with estimates, while revenue reached $677 million—up 127.9% year over year and above analyst expectations.

Viper Energy (NASDAQ:VNOM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on VNOM. Raymond James Financial set a $57.00 target price on shares of Viper Energy in a report on Friday, July 31st. Royal Bank Of Canada upped their price target on shares of Viper Energy from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. TD increased their price objective on shares of Viper Energy from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Seaport Research Partners initiated coverage on shares of Viper Energy in a report on Thursday, September 3rd. They issued a "buy" rating and a $45.00 target price on the stock. Finally, Barclays decreased their target price on shares of Viper Energy from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Viper Energy has a consensus rating of "Buy" and an average price target of $56.56.

Viper Energy Price Performance

Shares of Viper Energy stock opened at $47.68 on Friday. The firm has a market cap of $17.13 billion, a PE ratio of 23.18 and a beta of 0.50. The stock has a 50 day moving average of $43.84 and a 200 day moving average of $44.29. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.76. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%. The company's revenue was up 127.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. On average, research analysts expect that Viper Energy will post 2.83 EPS for the current fiscal year.

Institutional Trading of Viper Energy

Several hedge funds and other institutional investors have recently bought and sold shares of VNOM. North Dakota State Investment Board increased its position in shares of Viper Energy by 4.2% in the 3rd quarter. North Dakota State Investment Board now owns 5,771 shares of the oil and gas producer's stock valued at $230,000 after acquiring an additional 234 shares during the period. Stephens Inc. AR grew its stake in shares of Viper Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer's stock worth $645,000 after purchasing an additional 245 shares during the period. Kestra Advisory Services LLC increased its holdings in Viper Energy by 1.2% in the first quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer's stock valued at $1,027,000 after buying an additional 268 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in Viper Energy by 0.8% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 40,617 shares of the oil and gas producer's stock worth $1,620,000 after purchasing an additional 303 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Viper Energy by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 52,276 shares of the oil and gas producer's stock worth $2,217,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Company Profile

Viper Energy, Inc NASDAQ: VNOM owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company's interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.

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