Viper Energy (NASDAQ:VNOM) Earns Outperform Rating from Raymond James

Viper Energy (NASDAQ:VNOM - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Raymond James in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $54.00 price objective on the oil and gas producer's stock, up from their previous price objective of $52.00. Raymond James' target price indicates a potential upside of 33.69% from the company's previous close.

Several other brokerages also recently weighed in on VNOM. Wall Street Zen downgraded Viper Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, May 7th. Barclays reduced their price objective on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Bank of America dropped their price objective on Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Truist Financial decreased their price target on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Mizuho decreased their price objective on shares of Viper Energy from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.15.

Viper Energy Stock Up 0.6%

Shares of NASDAQ:VNOM traded up $0.25 during trading on Wednesday, hitting $40.39. 248,697 shares of the company were exchanged, compared to its average volume of 1,310,198. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. 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 $8.61 billion, a P/E ratio of 17.32 and a beta of 1.05. The firm's 50 day moving average price is $41.05 and its 200-day moving average price is $46.32.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same period in the prior year, the company earned $0.49 earnings per share. On average, research analysts predict that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Viper Energy by 1.4% in the 1st quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer's stock valued at $816,000 after buying an additional 249 shares during the period. American Century Companies Inc. grew its position in shares of Viper Energy by 1.1% during the 4th quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer's stock valued at $1,243,000 after buying an additional 268 shares during the last quarter. Savant Capital LLC grew its position in shares of Viper Energy by 2.1% during the 4th quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer's stock valued at $706,000 after buying an additional 293 shares during the last quarter. Finally, Segment Wealth Management LLC raised its stake in Viper Energy by 3.9% during the first quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer's stock worth $430,000 after acquiring an additional 360 shares during the period. Institutional investors and hedge funds own 87.72% of the company's stock.

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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