Viper Energy (NASDAQ:VNOM) Price Target Lowered to $62.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price reduced by equities research analysts at Piper Sandler from $63.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. Piper Sandler's target price would suggest a potential upside of 49.11% from the stock's current price.

Several other brokerages have also commented on VNOM. KeyCorp decreased their price objective on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, April 21st. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price target on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Viper Energy from $51.00 to $49.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Barclays lifted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.15.

Viper Energy Trading Up 1.4 %

Shares of VNOM stock traded up $0.58 during trading hours on Tuesday, reaching $41.58. The company's stock had a trading volume of 495,924 shares, compared to its average volume of 1,294,901. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The stock has a market capitalization of $8.86 billion, a P/E ratio of 17.85 and a beta of 1.23. The firm's fifty day simple moving average is $42.60 and its 200 day simple moving average is $48.03.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its position in shares of Viper Energy by 103.3% in the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after purchasing an additional 22,334 shares during the period. Virtu Financial LLC purchased a new stake in Viper Energy in the 3rd quarter worth $233,000. Fulcrum Equity Management raised its holdings in Viper Energy by 4.1% during the third quarter. Fulcrum Equity Management now owns 9,543 shares of the oil and gas producer's stock valued at $430,000 after acquiring an additional 375 shares during the period. Franklin Resources Inc. purchased a new position in shares of Viper Energy in the third quarter valued at about $3,037,000. Finally, Retirement Systems of Alabama bought a new position in shares of Viper Energy in the third quarter worth about $12,980,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.