KeyCorp Upgrades Viper Energy (NASDAQ:VNOM) to Overweight

Viper Energy (NASDAQ:VNOM) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a $62.00 price objective on the oil and gas producer’s stock. KeyCorp’s price target would indicate a potential upside of 21.12% from the company’s previous close. KeyCorp also issued estimates for Viper Energy’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $2.18 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.62 EPS, FY2025 earnings at $2.39 EPS, Q1 2026 earnings at $0.61 EPS, Q2 2026 earnings at $0.59 EPS, Q3 2026 earnings at $0.60 EPS and FY2026 earnings at $2.43 EPS.

A number of other research firms have also weighed in on VNOM. Piper Sandler increased their target price on shares of Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Raymond James increased their price objective on Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial boosted their target price on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, TD Securities boosted their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.27.

Viper Energy Stock Performance

Shares of VNOM stock opened at $51.19 on Friday. The company has a market capitalization of $9.64 billion, a P/E ratio of 21.97 and a beta of 1.71. Viper Energy has a fifty-two week low of $30.16 and a fifty-two week high of $56.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The stock has a 50 day moving average price of $52.46 and a two-hundred day moving average price of $45.89.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. Analysts expect that Viper Energy will post 2.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VNOM. FMR LLC increased its stake in shares of Viper Energy by 4,836.9% during the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock valued at $3,365,000 after purchasing an additional 73,085 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Viper Energy in the 3rd quarter worth approximately $984,000. Amalgamated Bank bought a new position in Viper Energy during the 2nd quarter valued at approximately $616,000. Summit Global Investments purchased a new position in Viper Energy during the third quarter valued at $706,000. Finally, Louisiana State Employees Retirement System bought a new stake in Viper Energy in the third quarter worth $1,268,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.