TD Securities Lowers Viper Energy (NASDAQ:VNOM) Price Target to $56.00

Key Points

• TD Securities has lowered Viper Energy's price target from $58.00 to $56.00, while maintaining a "buy" rating, indicating a potential upside of 46.34% from the current stock price.
• Viper Energy's stock recently traded down 0.6% to $38.27 with an average volume of 400,777 shares, compared to its significantly higher average of 1,748,449 shares.
• In their last earnings report, Viper Energy reported $0.41 earnings per share, exceeding the consensus estimate of $0.34, with revenue increasing 37.1% year-over-year.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price target dropped by TD Securities from $58.00 to $56.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. TD Securities' price target indicates a potential upside of 46.34% from the stock's current price.

Several other research analysts have also weighed in on VNOM. Roth Capital set a $50.00 price target on Viper Energy and gave the company a "buy" rating in a research report on Tuesday, August 26th. Mizuho decreased their target price on Viper Energy from $55.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Wells Fargo & Company decreased their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Morgan Stanley began coverage on Viper Energy in a research note on Monday, August 18th. They set an "overweight" rating and a $46.00 target price for the company. Finally, Raymond James Financial restated an "outperform" rating and set a $57.00 target price (down previously from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat, Viper Energy has a consensus rating of "Buy" and a consensus price target of $55.40.

Viper Energy Stock Down 0.6%

NASDAQ:VNOM traded down $0.21 during trading hours on Tuesday, hitting $38.27. 400,777 shares of the company's stock traded hands, compared to its average volume of 1,748,449. The firm has a market cap of $11.04 billion, a P/E ratio of 11.06, a P/E/G ratio of 17.75 and a beta of 1.04. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. The stock's fifty day moving average price is $38.25 and its two-hundred day moving average price is $39.70.

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

Hedge Funds Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new stake in shares of Viper Energy in the 2nd quarter valued at $27,000. UMB Bank n.a. boosted its stake in shares of Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Viper Energy in the first quarter valued at about $34,000. AlphaQuest LLC bought a new stake in Viper Energy during the first quarter worth about $41,000. Finally, Golden State Wealth Management LLC grew its stake in Viper Energy by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after buying an additional 500 shares during the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Company Profile

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.

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