Viper Energy (NASDAQ:VNOM) Upgraded at Wall Street Zen

Key Points

• Viper Energy has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook for the company.
• The company's shares currently have an average target price of $55.21, with the majority of analysts giving it a rating of "Moderate Buy."
• Viper Energy reported earnings of $0.41 per share in its last quarterly results, exceeding analysts' expectations and showing a year-over-year revenue increase of 37.1%.

Viper Energy (NASDAQ:VNOM - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

VNOM has been the subject of a number of other research reports. TD Securities set a $54.00 price target on shares of Viper Energy in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Viper Energy in a report on Wednesday, October 8th. William Blair began coverage on shares of Viper Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. KeyCorp dropped their price objective on shares of Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Finally, Mizuho dropped their price objective on shares of Viper Energy from $55.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Fifteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Viper Energy currently has an average rating of "Moderate Buy" and a consensus target price of $55.21.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $36.35 on Friday. The company has a 50 day moving average of $38.23 and a 200-day moving average of $39.08. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76. 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 company has a market cap of $10.49 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 15.76 and a beta of 0.92.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly 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. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The firm's quarterly revenue was up 37.1% on a year-over-year basis. As a group, equities research analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. acquired a new position in Viper Energy in the 2nd quarter valued at approximately $27,000. Cullen Frost Bankers Inc. acquired a new position in Viper Energy in the 1st quarter valued at approximately $34,000. AlphaQuest LLC acquired a new position in Viper Energy in the 1st quarter valued at approximately $41,000. Golden State Wealth Management LLC increased 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 valued at $45,000 after acquiring an additional 500 shares during the period. Finally, Assetmark Inc. increased its position in Viper Energy by 48.7% in the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer's stock valued at $41,000 after acquiring an additional 350 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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