Viper Energy (NASDAQ:VNOM) Price Target Raised to $57.00 at Citigroup

Viper Energy (NASDAQ:VNOM) had its price target lifted by stock analysts at Citigroup from $52.00 to $57.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target would indicate a potential upside of 21.37% from the stock’s current price.

VNOM has been the subject of a number of other reports. Barclays cut their price objective on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Wells Fargo & Company raised their price target on Viper Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Piper Sandler increased their price objective on shares of Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Finally, TD Securities raised their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Viper Energy Stock Up 0.5%

Shares of NASDAQ:VNOM traded up $0.25 during midday trading on Tuesday, hitting $46.96. The stock had a trading volume of 2,085,035 shares, compared to its average volume of 3,337,190. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $44.10 and its 200-day simple moving average is $40.04. Viper Energy has a 12 month low of $34.71 and a 12 month high of $49.08. The company has a market cap of $16.79 billion, a P/E ratio of -204.18, a PEG ratio of 1.20 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.51 million. During the same quarter last year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was up 87.6% compared to the same quarter last year. On average, sell-side analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Viper Energy

Institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Viper Energy during the 4th quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Viper Energy in the third quarter valued at approximately $31,000. Ameriflex Group Inc. acquired a new stake in Viper Energy during the third quarter worth approximately $38,000. CoreCap Advisors LLC raised its holdings in Viper Energy by 503.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 906 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

About Viper Energy

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.