Viper Energy (NASDAQ:VNOM) Stock Rating Upgraded by Wall Street Zen

Viper Energy (NASDAQ:VNOM) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. TD Securities set a $54.00 price objective on shares of Viper Energy in a report on Tuesday, September 30th. Roth Capital set a $50.00 price objective on shares of Viper Energy and gave the company a “buy” rating in a report on Tuesday, August 26th. Piper Sandler lifted their price objective on shares of Viper Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial reissued an “outperform” rating and set a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Finally, William Blair started coverage on shares of Viper Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $55.21.

Viper Energy Stock Performance

Viper Energy stock opened at $36.35 on Friday. The company has a 50 day moving average price of $38.23 and a 200-day moving average price of $39.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. Viper Energy has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The company has a market capitalization of $10.49 billion, a PE ratio of 10.51, a P/E/G ratio of 15.81 and a beta of 0.92.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 37.1% on a year-over-year basis. As a group, equities analysts forecast that Viper Energy will post 2.02 earnings per share for the current year.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its holdings in Viper Energy by 22.1% in the first quarter. Swiss National Bank now owns 247,177 shares of the oil and gas producer’s stock worth $11,160,000 after purchasing an additional 44,700 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Viper Energy by 27.6% in the first quarter. Principal Financial Group Inc. now owns 302,575 shares of the oil and gas producer’s stock worth $13,661,000 after purchasing an additional 65,375 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Viper Energy by 21.3% during the first quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer’s stock worth $2,705,000 after buying an additional 10,529 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Viper Energy by 21.2% during the first quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer’s stock worth $70,117,000 after buying an additional 271,337 shares during the period. Finally, State of Michigan Retirement System lifted its stake in shares of Viper Energy by 28.7% during the first quarter. State of Michigan Retirement System now owns 31,400 shares of the oil and gas producer’s stock worth $1,418,000 after buying an additional 7,000 shares during the period. 87.72% of the stock is owned by hedge funds and other 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.