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

Viper Energy (NASDAQ:VNOM - Get Free Report) had its target price hoisted by analysts at Evercore ISI from $49.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the oil and gas producer's stock. Evercore ISI's price objective points to a potential upside of 26.90% from the company's current price.

VNOM has been the topic of a number of other reports. Bank of America lowered their price target on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company reduced their price objective on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group set a $72.00 price objective on shares of Viper Energy in a research note on Monday, March 3rd. KeyCorp reduced their price objective on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and a consensus target price of $56.85.

Viper Energy Stock Performance

NASDAQ:VNOM traded up $0.05 during mid-day trading on Wednesday, reaching $40.19. 2,024,874 shares of the company's stock were exchanged, compared to its average volume of 1,347,860. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The firm has a market capitalization of $11.60 billion, a PE ratio of 17.25 and a beta of 1.05. The business's fifty day simple moving average is $40.51 and its two-hundred day simple moving average is $45.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results 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. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business had revenue of $245.00 million for the quarter, compared to analyst estimates of $233.99 million. During the same period last year, the firm earned $0.49 earnings per share. Analysts anticipate that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. bought a new stake in shares of Viper Energy during the 1st quarter valued at approximately $1,351,000. Strs Ohio bought a new stake in shares of Viper Energy during the 1st quarter valued at approximately $1,623,000. WBI Investments LLC bought a new stake in shares of Viper Energy during the 1st quarter valued at approximately $2,531,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Viper Energy by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer's stock valued at $9,233,000 after purchasing an additional 37,847 shares during the last quarter. Finally, Woodline Partners LP boosted its position in Viper Energy by 37.4% during the 1st quarter. Woodline Partners LP now owns 1,980,786 shares of the oil and gas producer's stock worth $89,432,000 after buying an additional 539,517 shares during the period. 87.72% of the stock is owned by 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.