Viper Energy (NASDAQ:VNOM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised its price target for Viper Energy from $48.00 to $49.00, suggesting a potential upside of 33.36% from its previous close, and maintains an "overweight" rating on the stock.
• A total of fifteen research analysts have rated Viper Energy as a Buy, while one has issued a Hold rating, with an average price target of $55.21.
• Viper Energy reported earnings of $0.41 per share, exceeding analyst expectations, with revenue increasing by 37.1% year-over-year.

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price objective upped by stock analysts at Wells Fargo & Company from $48.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. Wells Fargo & Company's price target would indicate a potential upside of 33.36% from the company's previous close.

A number of other analysts have also weighed in on the stock. Piper Sandler upped their target price on shares of Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Mizuho decreased their target price on shares of Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Barclays decreased their price target on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, October 7th. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $57.00 price target (down previously from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.21.

Viper Energy Stock Performance

Shares of VNOM stock traded down $0.07 during trading on Thursday, reaching $36.74. 61,894 shares of the company's stock traded hands, compared to its average volume of 1,737,758. The company has a market capitalization of $10.60 billion, a P/E ratio of 10.62, a PEG ratio of 16.54 and a beta of 0.92. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $38.29 and its 200 day moving average is $39.20. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.35 million. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. Viper Energy's revenue was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities research analysts expect that Viper Energy will post 2.02 EPS for the current year.

Institutional Trading of Viper Energy

A number of large investors have recently made changes to their positions in VNOM. Financial Gravity Companies Inc. purchased a new position in shares of Viper Energy in the second quarter worth approximately $27,000. Cullen Frost Bankers Inc. purchased a new position in shares of Viper Energy in the first quarter worth approximately $34,000. AlphaQuest LLC purchased a new position in shares of Viper Energy in the first quarter worth approximately $41,000. Golden State Wealth Management LLC boosted its holdings in shares of Viper Energy by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after buying an additional 500 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer's stock worth $41,000 after buying an additional 350 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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