Viper Energy (NASDAQ:VNOM) Price Target Raised to $50.00

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price hoisted by stock analysts at Wells Fargo & Company from $48.00 to $50.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. Wells Fargo & Company's price target points to a potential upside of 20.13% from the stock's current price.

Several other equities analysts have also recently issued reports on VNOM. Wall Street Zen upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Barclays increased their target price on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Evercore ISI lifted their price target on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. TD Securities increased their price objective on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and an average target price of $57.00.

Viper Energy Trading Down 2.1%

Shares of NASDAQ:VNOM traded down $0.90 on Monday, reaching $41.62. 471,287 shares of the company traded hands, compared to its average volume of 1,369,128. The stock has a market capitalization of $12.01 billion, a P/E ratio of 17.83 and a beta of 1.00. The business's 50-day simple moving average is $40.50 and its 200 day simple moving average is $45.13. 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 52 week low of $34.71 and a 52 week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced 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. The firm had revenue of $245.00 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.49 earnings per share. As a group, equities analysts anticipate that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Trading of Viper Energy

A number of large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its stake in Viper Energy by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the oil and gas producer's stock valued at $1,403,000 after buying an additional 500 shares during the last quarter. Van ECK Associates Corp purchased a new position in Viper Energy in the fourth quarter worth about $3,804,000. New York State Teachers Retirement System increased its position in shares of Viper Energy by 8.3% during the 4th quarter. New York State Teachers Retirement System now owns 23,604 shares of the oil and gas producer's stock valued at $1,158,000 after purchasing an additional 1,800 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Viper Energy by 6.4% in the 4th quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock worth $13,165,000 after purchasing an additional 16,172 shares during the period. Finally, Americana Partners LLC boosted its holdings in shares of Viper Energy by 0.6% in the fourth quarter. Americana Partners LLC now owns 78,836 shares of the oil and gas producer's stock worth $3,869,000 after buying an additional 451 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

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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