Viper Energy (NASDAQ:VNOM) Price Target Lowered to $51.00 at Mizuho

Key Points

• Mizuho lowered its price target for Viper Energy from $55.00 to $51.00, while maintaining an "outperform" rating, indicating a potential upside of 33.73% from the stock's previous close.
• Several analysts have issued differing ratings, with Wall Street Zen downgrading Viper Energy from "hold" to "sell," while Piper Sandler increased their target from $66.00 to $68.00 with an "overweight" rating.
• Viper Energy reported earnings of $0.41 per share for its last quarter, surpassing estimates and showing a significant revenue increase of 37.1% year-over-year.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price objective dropped by equities researchers at Mizuho from $55.00 to $51.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the oil and gas producer's stock. Mizuho's target price points to a potential upside of 33.73% from the stock's previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. TD Securities boosted their price target on shares of Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wells Fargo & Company lowered their price target on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. KeyCorp lowered their price target on shares of Viper Energy from $56.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Finally, Piper Sandler boosted their price target on shares of Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $55.53.

Viper Energy Price Performance

Shares of Viper Energy stock traded down $0.43 during trading hours on Monday, reaching $38.14. The company's stock had a trading volume of 530,256 shares, compared to its average volume of 1,728,773. The stock has a market cap of $11.00 billion, a P/E ratio of 11.02, a P/E/G ratio of 17.26 and a beta of 1.04. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The firm has a 50 day moving average price of $38.06 and a 200-day moving average price of $40.04. 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 announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm had revenue of $297.00 million during the quarter, compared to analysts' expectations of $285.35 million. During the same quarter in the prior year, the company earned $0.62 EPS. The company's revenue was up 37.1% compared to the same quarter last year. On average, analysts predict that Viper Energy will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its holdings in shares of Viper Energy by 132.2% in the 2nd quarter. Advisory Services Network LLC now owns 13,237 shares of the oil and gas producer's stock valued at $498,000 after buying an additional 7,537 shares in the last quarter. FORA Capital LLC acquired a new stake in Viper Energy during the 2nd quarter worth $447,000. Evergreen Capital Management LLC boosted its stake in Viper Energy by 1.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 65,333 shares of the oil and gas producer's stock worth $2,491,000 after purchasing an additional 678 shares during the period. Corient Private Wealth LLC boosted its stake in Viper Energy by 296.6% during the 2nd quarter. Corient Private Wealth LLC now owns 46,680 shares of the oil and gas producer's stock worth $1,779,000 after purchasing an additional 34,910 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in Viper Energy by 1.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 108,925 shares of the oil and gas producer's stock worth $4,153,000 after purchasing an additional 1,644 shares during the period. Institutional investors and hedge funds 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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