Viper Energy Inc. (NASDAQ:VNOM) Receives $57.57 Average PT from Analysts

Shares of Viper Energy Inc. (NASDAQ:VNOM) have earned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $57.5714.

Several brokerages have recently weighed in on VNOM. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a report on Friday, May 29th. They set an “outperform” rating and a $58.00 price objective on the stock. Mizuho boosted their target price on shares of Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley dropped their price target on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Barclays increased their price target on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company lifted their price target on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VNOM. Capital World Investors grew its position in Viper Energy by 4.0% during the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock valued at $498,967,000 after acquiring an additional 493,203 shares during the period. Wellington Management Group LLP raised its holdings in shares of Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after purchasing an additional 1,024,838 shares during the period. State Street Corp lifted its stake in shares of Viper Energy by 2.9% in the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after purchasing an additional 148,503 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Viper Energy by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock valued at $192,672,000 after purchasing an additional 258,082 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Viper Energy stock opened at $43.18 on Monday. The stock has a fifty day moving average price of $43.94 and a 200 day moving average price of $44.46. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13. The firm has a market capitalization of $15.50 billion, a P/E ratio of -134.93 and a beta of 0.40. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s quarterly revenue was up 108.6% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. Equities research analysts anticipate that Viper Energy will post 2.42 earnings per share for the current year.

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.