Piper Sandler Issues Pessimistic Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its target price dropped by Piper Sandler from $62.00 to $61.00 in a research report issued to clients and 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 suggests a potential upside of 42.69% from the stock’s current price.

Several other research firms also recently issued reports on VNOM. Truist Financial cut their price objective on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Barclays cut their price target on shares of Viper Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Evercore ISI reiterated an “outperform” rating and issued a $49.00 price target on shares of Viper Energy in a report on Wednesday, May 7th. Finally, KeyCorp cut their price target on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.08.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $42.75 on Tuesday. The company has a market capitalization of $9.11 billion, a PE ratio of 18.35 and a beta of 1.05. 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 company has a 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $47.13. Viper Energy has a one year low of $34.71 and a one year high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. Research analysts expect that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Golden State Wealth Management LLC purchased a new position in Viper Energy in the 4th quarter valued at $25,000. Quarry LP acquired a new stake in shares of Viper Energy during the 4th quarter worth about $32,000. Assetmark Inc. increased its position in shares of Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 518 shares during the last quarter. UMB Bank n.a. grew its position in Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 414 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Viper Energy by 43.9% in the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other 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.