Viper Energy (NASDAQ:VNOM) Price Target Raised to $51.00

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price boosted by analysts at Wells Fargo & Company from $50.00 to $51.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas producer's stock. Wells Fargo & Company's price objective would suggest a potential upside of 34.98% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. KeyCorp reduced their target price 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. Piper Sandler raised their target price on shares of Viper Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday. Raymond James Financial restated an "outperform" rating and set a $60.00 target price (up from $54.00) on shares of Viper Energy in a report on Thursday, June 5th. Mizuho raised their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.46.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $1.25 during trading hours on Thursday, hitting $37.78. The stock had a trading volume of 466,469 shares, compared to its average volume of 1,416,765. Viper Energy has a 1-year low of $34.71 and a 1-year 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. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 18.00 and a beta of 0.97. The stock's fifty day simple moving average is $39.88 and its 200 day simple moving average is $43.33.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. The business had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. During the same quarter last year, the business earned $0.49 earnings per share. Sell-side analysts anticipate that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in Viper Energy in the 4th quarter worth $32,000. UMB Bank n.a. grew its position in Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Viper Energy in the 1st quarter worth $34,000. AlphaQuest LLC acquired a new stake in Viper Energy in the 1st quarter worth $41,000. Finally, Golden State Wealth Management LLC grew its position in Viper Energy by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 87.72% of the company's stock.

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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