Viper Energy (NASDAQ:VNOM) Price Target Cut to $52.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target on Viper Energy to $52 from $58, while keeping a buy rating. The new target still implies about 16% upside from the current share price.
• Analyst views remain mixed but generally positive: Viper Energy has a Moderate Buy consensus rating with a $57.54 average price target. Recent calls also included a target increase from Barclays and cuts from Morgan Stanley.
• The company recently beat earnings estimates, reporting $0.55 EPS on $511 million in revenue, with revenue up 108.6% year over year. Shares were trading around $44.74, near their 50-day and 200-day moving averages.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price reduced by stock analysts at Truist Financial from $58.00 to $52.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas producer's stock. Truist Financial's target price would indicate a potential upside of 16.22% from the company's current price.

Other analysts have also issued reports about the stock. Roth Capital set a $52.00 price target on shares of Viper Energy in a research note on Wednesday. Wall Street Zen lowered shares of Viper Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Mizuho boosted their target price on Viper Energy from $54.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Morgan Stanley cut their target price on Viper Energy from $49.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Finally, Barclays lifted their price target on Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.54.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $0.36 on Monday, hitting $44.74. The company's stock had a trading volume of 139,902 shares, compared to its average volume of 2,480,352. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of -139.79 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13. The stock's 50-day moving average is $44.60 and its two-hundred day moving average is $44.10.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million for the quarter, compared to analysts' expectations of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company's revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts forecast that Viper Energy will post 2.41 EPS for the current year.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in Viper Energy in the 4th quarter worth about $27,000. Parallel Advisors LLC lifted its stake in Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock valued at $64,000 after buying an additional 322 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of Viper Energy in the fourth quarter worth about $64,000. Nisa Investment Advisors LLC boosted its holdings in shares of Viper Energy by 256.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer's stock worth $69,000 after buying an additional 1,291 shares during the period. Finally, Clearstead Advisors LLC increased its position in shares of Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock worth $75,000 after acquiring an additional 654 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

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