Viper Energy (NASDAQ:VNOM) Coverage Initiated at William Blair

Key Points

• William Blair has initiated coverage on Viper Energy, setting an "outperform" rating for the stock, suggesting positive expectations for its performance.
• Viper Energy has received numerous upgrades from several analysts, with price targets increased by institutions including Bank of America, Evercore ISI, and Piper Sandler, indicating a consensus rating of "Buy" among fifteen analysts.
• The company reported a quarterly EPS of $0.41, exceeding expectations and showcasing a revenue increase of 37.1% year-over-year, reflecting strong operational performance.

Stock analysts at William Blair initiated coverage on shares of Viper Energy (NASDAQ:VNOM - Get Free Report) in a report released on Monday,Benzinga reports. The brokerage set an "outperform" rating on the oil and gas producer's stock.

Other equities research analysts have also issued reports about the stock. Bank of America reduced their target price on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Evercore ISI upped their price objective on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. TD Securities lifted their target price on Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Piper Sandler boosted their target price on Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Barclays upped their price target on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Fifteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $56.36.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $38.99 on Monday. The business has a 50-day moving average of $38.17 and a 200 day moving average of $41.07. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 17.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly 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 company had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.35 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The business's revenue for the quarter was up 37.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Viper Energy will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNOM. Quarry LP purchased a new position in shares of Viper Energy in the 4th quarter valued at about $32,000. Financial Gravity Companies Inc. acquired a new position in Viper Energy in the second quarter valued at approximately $27,000. UMB Bank n.a. boosted its holdings in Viper Energy by 129.0% in the first 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. purchased a new position in Viper Energy in the first quarter valued at approximately $34,000. Finally, AlphaQuest LLC acquired a new stake in Viper Energy during the first quarter worth approximately $41,000. 87.72% of the stock is owned by institutional investors and hedge funds.

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.

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