Viper Energy (NASDAQ:VNOM) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Viper Energy from “Hold” to “Buy,” adding to broadly positive analyst sentiment. The stock has an average “Buy” rating and a consensus price target of $56.56.
• Viper Energy opened at $45.02, with a 52-week range of $35.10 to $51.13 and a market capitalization of approximately $16.17 billion.
• The company reported quarterly earnings of $0.76 per share, matching estimates, while revenue of $677 million exceeded expectations and rose 127.9% year over year. Institutional investors own 87.72% of the stock.

Viper Energy (NASDAQ:VNOM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Monday, Wall Street Zen reports.

VNOM has been the topic of several other research reports. TD Cowen restated a "buy" rating on shares of Viper Energy in a research report on Tuesday, August 4th. Citigroup lowered their price objective on shares of Viper Energy from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Johnson Rice assumed coverage on shares of Viper Energy in a research note on Monday, August 3rd. They issued an "accumulate" rating and a $55.00 price objective for the company. Truist Financial boosted their target price on shares of Viper Energy from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Viper Energy in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $56.56.

Viper Energy Price Performance

NASDAQ VNOM opened at $45.02 on Monday. The business's fifty day moving average price is $43.18 and its 200-day moving average price is $44.41. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 346.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $677.00 million for the quarter, compared to analysts' expectations of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The company's revenue was up 127.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. On average, equities analysts predict that Viper Energy will post 2.77 earnings per share for the current year.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently bought and sold shares of VNOM. Stephens Investment Management Group LLC boosted its position in shares of Viper Energy by 8.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,231,728 shares of the oil and gas producer's stock worth $57,879,000 after purchasing an additional 93,498 shares in the last quarter. Bank of New York Mellon Corp increased its position in Viper Energy by 13.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer's stock valued at $57,485,000 after buying an additional 145,221 shares in the last quarter. Recurrent Investment Advisors LLC raised its stake in Viper Energy by 36.9% in the first quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer's stock valued at $46,488,000 after buying an additional 266,703 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Viper Energy in the first quarter valued at about $37,464,000. Finally, Bank of America Corp DE raised its stake in Viper Energy by 24.0% in the first quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer's stock valued at $37,373,000 after buying an additional 154,032 shares during the last quarter. 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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