Viper Energy (NASDAQ:VNOM) Price Target Raised to $50.00 at Wells Fargo & Company

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price lifted by investment analysts at Wells Fargo & Company from $48.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. Wells Fargo & Company's target price would indicate a potential upside of 22.43% from the stock's current price.

A number of other research analysts also recently commented on the company. Wall Street Zen raised Viper Energy from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. KeyCorp decreased their price target on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Barclays lifted their price target on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Piper Sandler reduced their price objective on shares of Viper Energy from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Evercore ISI raised their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.00.

Viper Energy Stock Down 2.1%

Shares of VNOM stock traded down $0.89 on Monday, hitting $40.84. The stock had a trading volume of 1,236,422 shares, compared to its average volume of 1,376,816. The stock's 50 day moving average is $40.66 and its 200-day moving average is $44.99. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 19.95 and a beta of 1.00. Viper Energy has a 52-week low of $34.71 and a 52-week high of $56.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.70 and a current ratio of 8.70.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 43.43% and a return on equity of 5.41%. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, research analysts expect that Viper Energy will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Viper Energy by 28.9% during the first quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer's stock valued at $587,708,000 after purchasing an additional 2,921,832 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Viper Energy in the 4th quarter worth approximately $95,505,000. Price T Rowe Associates Inc. MD boosted its position in Viper Energy by 21.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer's stock valued at $451,336,000 after purchasing an additional 1,778,093 shares during the period. Alyeska Investment Group L.P. grew its stake in Viper Energy by 763.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,799,642 shares of the oil and gas producer's stock worth $81,254,000 after buying an additional 1,591,212 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Viper Energy by 12.2% in the first quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer's stock worth $539,719,000 after buying an additional 1,301,933 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.