Viper Energy (NASDAQ:VNOM) Given New $64.00 Price Target at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price objective decreased by investment analysts at Piper Sandler from $68.00 to $64.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target indicates a potential upside of 75.87% from the stock’s previous close.

A number of other analysts have also commented on VNOM. Wells Fargo & Company raised their price target on Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. KeyCorp decreased their price objective on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Jefferies Financial Group started coverage on shares of Viper Energy in a research report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and a consensus price target of $54.13.

Viper Energy Trading Down 0.6%

Shares of NASDAQ VNOM traded down $0.22 during trading hours on Tuesday, hitting $36.39. The company’s stock had a trading volume of 583,615 shares, compared to its average volume of 1,709,261. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 16.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.15 and a current ratio of 1.88. The business has a 50-day simple moving average of $37.75 and a 200-day simple moving average of $38.69.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $418.00 million during the quarter, compared to analysts’ expectations of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business’s revenue was up 98.1% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, analysts anticipate 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 made changes to their positions in the business. Financial Gravity Companies Inc. bought a new stake in shares of Viper Energy in the 2nd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Viper Energy during the 3rd quarter valued at approximately $31,000. AlphaQuest LLC purchased a new position in Viper Energy during the first quarter valued at $41,000. Ameriflex Group Inc. purchased a new position in Viper Energy during the third quarter valued at $38,000. Finally, Assetmark Inc. boosted its holdings in 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 acquiring an additional 350 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

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.