Viper Energy (NASDAQ:VNOM) Given New $54.00 Price Target at KeyCorp

Key Points

• KeyCorp has lowered its price target for Viper Energy from $56.00 to $54.00, while maintaining an "overweight" rating on the stock.
• Viper Energy's current stock price suggests a potential upside of 37.24% from the new target price set by KeyCorp.
• The stock has a strong average rating of "Buy" from sixteen analysts, with an average target price of $55.80.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price dropped by equities researchers at KeyCorp from $56.00 to $54.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas producer's stock. KeyCorp's price target would suggest a potential upside of 44.85% from the company's current price.

VNOM has been the topic of a number of other research reports. Barclays increased their target price on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Roth Capital set a $50.00 price target on Viper Energy and gave the company a "buy" rating in a research note on Tuesday, August 26th. Mizuho boosted their price target on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Morgan Stanley assumed coverage on Viper Energy in a research note on Monday, August 18th. They issued an "overweight" rating and a $46.00 price target for the company. Finally, Piper Sandler boosted their price target on Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Sixteen research analysts have rated the stock with a Buy rating, According to MarketBeat, Viper Energy currently has an average rating of "Buy" and a consensus target price of $55.80.

Viper Energy Stock Performance

VNOM stock traded down $1.77 during trading hours on Wednesday, hitting $37.28. 2,811,349 shares of the stock were exchanged, compared to its average volume of 2,438,130. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The firm has a market capitalization of $10.76 billion, a P/E ratio of 10.77, a P/E/G ratio of 16.68 and a beta of 1.04. The company has a 50-day simple moving average of $38.05 and a two-hundred day simple moving average of $40.38. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.35 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business's revenue was up 37.1% compared to the same quarter last year. On average, analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. bought a new position in shares of Viper Energy during the second quarter worth about $27,000. UMB Bank n.a. raised its holdings in Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Viper Energy in the 1st quarter valued at $34,000. AlphaQuest LLC acquired a new stake in shares of Viper Energy during the first quarter worth $41,000. Finally, Assetmark Inc. increased its position in shares of Viper Energy by 48.7% during the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer's stock worth $41,000 after buying an additional 350 shares during the period. 87.72% of the stock is owned by institutional investors.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.