Viper Energy (NASDAQ:VNOM) Rating Increased to Strong-Buy at Seaport Research Partners

Key Points

• Seaport Research Partners upgraded Viper Energy to “strong-buy,” adding to broadly positive analyst sentiment. Sixteen analysts rate the stock a Buy and two rate it Hold, with a consensus “Moderate Buy” rating and average price target of $56.93.
• Viper Energy shares opened at $44.89, down 0.5%, with a 52-week range of $35.10 to $51.13 and a market capitalization of approximately $16.12 billion.
• The company reported quarterly earnings of $0.76 per share, matching estimates, while revenue of $677 million exceeded expectations and increased 127.9% year over year. Institutional investors own 87.72% of the stock.

Viper Energy (NASDAQ:VNOM - Get Free Report) was upgraded by research analysts at Seaport Research Partners to a "strong-buy" rating in a note issued to investors on Wednesday, Marketbeat.com reports.

VNOM has been the topic of several other reports. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research note on Friday, May 29th. They issued an "outperform" rating and a $58.00 target price on the stock. Mizuho reduced their price target on shares of Viper Energy from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Tuesday, August 4th. Raymond James Financial set a $57.00 price target on shares of Viper Energy in a report on Friday, July 31st. Morgan Stanley dropped their price objective on Viper Energy from $49.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Finally, Truist Financial reduced their target price on Viper Energy from $58.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Viper Energy presently has a consensus rating of "Moderate Buy" and an average target price of $56.93.

Viper Energy Stock Down 0.5%

Shares of NASDAQ VNOM opened at $44.89 on Wednesday. Viper Energy has a one year low of $35.10 and a one year high of $51.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37. The business's fifty day moving average price is $43.23 and its 200-day moving average price is $45.04. The stock has a market capitalization of $16.12 billion, a PE ratio of 345.33 and a beta of 0.39.

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 EPS for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. Viper Energy's revenue for the quarter was up 127.9% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, equities research analysts anticipate that Viper Energy will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Los Angeles Capital Management LLC purchased a new stake in Viper Energy during the fourth quarter valued at about $27,000. Parallel Advisors LLC lifted its position in Viper Energy by 31.2% in the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 322 shares during the last quarter. UMB Bank n.a. bought a new stake in Viper Energy in the fourth quarter valued at approximately $64,000. Clearstead Advisors LLC boosted its stake in shares of Viper Energy by 50.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock valued at $75,000 after purchasing an additional 654 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Viper Energy by 20.0% during the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer's stock valued at $105,000 after purchasing an additional 413 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source