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

Key Points

• Barclays lowered Viper Energy’s price target from $60 to $58 while maintaining an “overweight” rating, implying approximately 36% upside from the prior close.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds; the consensus rating is “Moderate Buy” and the average price target is $56.93.
• Viper Energy’s shares rose 0.9% to $42.65, while its latest quarter met earnings expectations at $0.76 per share and exceeded revenue estimates with $677 million in sales.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price target dropped by Barclays from $60.00 to $58.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas producer's stock. Barclays's target price would suggest a potential upside of 35.99% from the company's previous close.

Other analysts also recently issued reports about the stock. TD increased their price target 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Viper Energy in a report on Friday, July 17th. Roth Capital reissued a "buy" rating on shares of Viper Energy in a research report on Tuesday, August 4th. Truist Financial lowered their price objective on shares of Viper Energy from $58.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Finally, Morgan Stanley dropped their price objective on Viper Energy from $49.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.93.

Viper Energy Trading Up 0.9%

Shares of Viper Energy stock traded up $0.36 during trading on Monday, reaching $42.65. 93,086 shares of the company were exchanged, compared to its average volume of 2,366,629. The business has a 50-day moving average price of $43.08 and a 200-day moving average price of $44.84. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 327.74 and a beta of 0.40. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The company's quarterly revenue was up 127.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts anticipate that Viper Energy will post 2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in Viper Energy in the 4th quarter valued at $27,000. Parallel Advisors LLC boosted its stake in Viper Energy by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 322 shares during the period. UMB Bank n.a. bought a new position in Viper Energy during the 4th quarter worth about $64,000. Clearstead Advisors LLC increased its holdings in Viper Energy by 50.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock worth $75,000 after purchasing an additional 654 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Viper Energy by 20.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer's stock worth $105,000 after purchasing an additional 413 shares in the last quarter. 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.

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