Brokerages Set Viper Energy Inc. (NASDAQ:VNOM) Target Price at $53.73

Viper Energy Inc. (NASDAQ:VNOM) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $52.7143.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their target price on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler cut their price target on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Barclays decreased their price objective on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Finally, Morgan Stanley lowered their price objective on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd.

Viper Energy Trading Up 1.7%

Shares of NASDAQ:VNOM opened at $42.59 on Monday. The company’s 50-day moving average price is $38.87 and its two-hundred day moving average price is $38.16. Viper Energy has a one year low of $34.71 and a one year high of $52.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $15.31 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 26.57 and a beta of 0.51.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business had revenue of $418.00 million for the quarter, compared to the consensus estimate of $389.35 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. Viper Energy’s quarterly revenue was up 98.1% on a year-over-year basis. On average, equities analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Trading of Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of VNOM. Beacon Pointe Advisors LLC acquired a new stake in Viper Energy during the second quarter worth approximately $608,000. JPMorgan Chase & Co. lifted its position in shares of Viper Energy by 15.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 303,909 shares of the oil and gas producer’s stock valued at $11,588,000 after acquiring an additional 39,867 shares during the period. Trilogy Capital Inc. grew its holdings in shares of Viper Energy by 190.4% during the 3rd quarter. Trilogy Capital Inc. now owns 59,960 shares of the oil and gas producer’s stock worth $2,292,000 after purchasing an additional 39,315 shares in the last quarter. Howard Financial Services LTD. increased its position in shares of Viper Energy by 140.6% in the third quarter. Howard Financial Services LTD. now owns 48,760 shares of the oil and gas producer’s stock worth $1,864,000 after purchasing an additional 28,498 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in Viper Energy in the second quarter valued at about $505,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.