Viper Energy (NASDAQ:VNOM) Earns Outperform Rating from Raymond James

Viper Energy (NASDAQ:VNOM)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James in a report issued on Thursday,Benzinga reports. They presently have a $60.00 price target on the oil and gas producer’s stock, up from their prior price target of $54.00. Raymond James’ price target points to a potential upside of 45.17% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Piper Sandler decreased their target price on Viper Energy from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group set a $72.00 price target on Viper Energy in a research note on Monday, March 3rd. Finally, TD Securities upped their price objective on Viper Energy from $57.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.85.

Viper Energy Trading Up 2.8%

Shares of Viper Energy stock opened at $41.33 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business has a fifty day simple moving average of $40.32 and a two-hundred day simple moving average of $45.70. Viper Energy has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 17.74 and a beta of 1.00.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings 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 worth $34,000 after purchasing an additional 214 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Viper Energy by 1.4% during the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock worth $816,000 after purchasing an additional 249 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Viper Energy by 1.1% during the fourth quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer’s stock worth $1,243,000 after purchasing an additional 268 shares during the last quarter. Savant Capital LLC increased its stake in shares of Viper Energy by 2.1% in the fourth quarter. Savant Capital LLC now owns 14,396 shares of the oil and gas producer’s stock valued at $706,000 after buying an additional 293 shares during the period. Finally, Segment Wealth Management LLC raised its holdings in Viper Energy by 3.9% in the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer’s stock valued at $430,000 after buying an additional 360 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

About Viper Energy

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.