Viper Energy (NASDAQ:VNOM) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group initiated coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “hold” rating and a $38.00 price target on the oil and gas producer’s stock. Jefferies Financial Group’s price target indicates a potential upside of 1.99% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the company a “buy” rating in a report on Tuesday, August 26th. Morgan Stanley reduced their price target on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company boosted their price target on shares of Viper Energy from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Raymond James Financial restated 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. Finally, Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.07.

Viper Energy Trading Down 2.0%

Shares of VNOM opened at $37.26 on Thursday. Viper Energy has a 1-year low of $34.71 and a 1-year high of $56.76. The company has a 50-day moving average of $38.16 and a 200 day moving average of $38.99. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 16.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating 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 analyst estimates of $285.35 million. During the same quarter last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, research analysts expect that Viper Energy will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in shares of Viper Energy during the 2nd quarter worth approximately $27,000. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy during the 1st quarter worth approximately $34,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Viper Energy during the 3rd quarter worth approximately $31,000. AlphaQuest LLC purchased a new stake in Viper Energy during the 1st quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC grew its position in Viper Energy by 100.0% during 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.