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

Key Points

• Wall Street Zen upgraded Viper Energy from “hold” to “buy,” adding to a broadly positive analyst outlook. Sixteen analysts rate the stock a Buy and two rate it a Hold, with an average price target of $56.93.
• Viper Energy reported quarterly revenue of $677 million, up 127.9% year over year, while earnings of $0.76 per share matched consensus estimates.
• VNOM opened at $40.64, below its $56.93 average analyst price target. Institutional investors own approximately 87.72% of the company.

Viper Energy (NASDAQ:VNOM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently issued reports on VNOM. Weiss Ratings restated a "hold (c)" rating on shares of Viper Energy in a research note on Friday, July 17th. TD Cowen reissued a "buy" rating on shares of Viper Energy in a research note on Tuesday, August 4th. TD increased their price target on Viper Energy from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Roth Capital reiterated a "buy" rating on shares of Viper Energy in a research note on Tuesday, August 4th. Finally, Barclays decreased their price target 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. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.93.

Viper Energy Stock Performance

Shares of VNOM stock opened at $40.64 on Friday. Viper Energy has a one year low of $35.10 and a one year high of $51.13. The company has a 50 day moving average price of $43.10 and a 200 day moving average price of $44.72. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 312.64 and a beta of 0.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results 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. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $643.45 million. During the same quarter in the prior year, the company earned $0.41 EPS. The company's revenue was up 127.9% on a year-over-year basis. Sell-side analysts anticipate that Viper Energy will post 2.72 EPS for the current year.

Institutional Trading of Viper Energy

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Viper Energy by 1,250.0% during the 2nd quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 875 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Viper Energy during the 2nd quarter worth approximately $56,000. Parallel Advisors LLC raised its stake in shares of Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock worth $64,000 after buying an additional 322 shares during the last quarter. Versant Capital Management Inc raised 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 worth $105,000 after buying an additional 413 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in Viper Energy in the first quarter valued at approximately $199,000. 87.72% of the stock is owned by institutional investors.

About Viper Energy

Viper Energy, Inc NASDAQ: VNOM is an oil and gas company that owns and acquires mineral, royalty and overriding royalty interests in properties operated primarily by other exploration and production companies. Its interests provide exposure to production from wells without requiring Viper to fund most drilling and completion activities.

The company's assets are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper's interests are associated mainly with oil and natural gas development and generate revenue from its share of production, while its broad and diversified ownership position spans numerous wells and acreage holdings.

Viper Energy was established as Viper Energy Partners and became a publicly traded master limited partnership in 2014.

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.