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

Viper Energy (NASDAQ:VNOM) had its target price lowered by stock analysts at KeyCorp from $56.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s price target points to a potential upside of 38.28% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Bank of America reduced their price objective on Viper Energy from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Evercore ISI lifted their price target on Viper Energy from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Wells Fargo & Company cut their price objective on Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Morgan Stanley initiated coverage on shares of Viper Energy in a report on Monday, August 18th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, Barclays boosted their price target on shares of Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Sixteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Viper Energy has a consensus rating of “Buy” and a consensus target price of $55.80.

Viper Energy Stock Performance

Shares of VNOM opened at $39.05 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15. The firm’s 50 day moving average is $38.07 and its 200-day moving average is $40.54. Viper Energy has a 12-month low of $34.71 and a 12-month high of $56.76. The stock has a market capitalization of $11.27 billion, a P/E ratio of 11.29, a P/E/G ratio of 17.05 and a beta of 1.04.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.35 million. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 earnings per share. Equities research analysts anticipate that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

Large investors have recently made changes to their positions in the company. Stifel Financial Corp raised its position in Viper Energy by 44.6% during the fourth quarter. Stifel Financial Corp now owns 16,704 shares of the oil and gas producer’s stock valued at $820,000 after acquiring an additional 5,154 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Viper Energy by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 74,819 shares of the oil and gas producer’s stock worth $3,671,000 after purchasing an additional 4,041 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Viper Energy by 26.5% during the 4th quarter. Northern Trust Corp now owns 865,493 shares of the oil and gas producer’s stock valued at $42,470,000 after purchasing an additional 181,475 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Viper Energy by 41.1% during the 4th quarter. Baird Financial Group Inc. now owns 87,512 shares of the oil and gas producer’s stock valued at $4,294,000 after purchasing an additional 25,474 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Viper Energy by 68.1% in the 4th quarter. Captrust Financial Advisors now owns 10,435 shares of the oil and gas producer’s stock valued at $512,000 after purchasing an additional 4,229 shares during the last quarter. 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.