Viper Energy (NASDAQ:VNOM) Given New $47.00 Price Target at JPMorgan Chase & Co.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $49.00 to $47.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 17.59% from the company's previous close.

Several other equities research analysts have also recently weighed in on VNOM. Mizuho initiated coverage on Viper Energy in a research note on Monday, March 31st. They set an "outperform" rating and a $56.00 target price for the company. Piper Sandler reduced their price objective on shares of Viper Energy from $63.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their target price on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Truist Financial cut their price target on shares of 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, Raymond James set a $52.00 price objective on Viper Energy in a report on Monday, April 21st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.00.

Viper Energy Trading Down 3.5 %

NASDAQ VNOM opened at $39.97 on Wednesday. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76. The firm has a 50 day moving average of $41.76 and a two-hundred day moving average of $47.54. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $8.52 billion, a PE ratio of 17.15 and a beta of 1.05.

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

Institutional Investors Weigh In On Viper Energy

Several hedge funds have recently modified their holdings of VNOM. First Horizon Advisors Inc. raised its holdings 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 worth $34,000 after purchasing an additional 214 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Viper Energy by 1.1% in 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 period. Savant Capital LLC grew its holdings in Viper Energy by 2.1% during the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer's stock worth $706,000 after acquiring an additional 293 shares during the period. Andina Capital Management LLC lifted its holdings in Viper Energy by 2.5% in the fourth quarter. Andina Capital Management LLC now owns 12,924 shares of the oil and gas producer's stock valued at $634,000 after acquiring an additional 312 shares during the period. Finally, Segment Wealth Management LLC boosted its position in shares of Viper Energy by 3.9% during the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer's stock worth $430,000 after purchasing an additional 360 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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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