Viper Energy (NASDAQ:VNOM) Upgraded to Hold at Wall Street Zen

Viper Energy (NASDAQ:VNOM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

VNOM has been the topic of several other reports. Piper Sandler cut their price target on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Morgan Stanley cut their target price on Viper Energy from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, October 8th. TD Securities set a $54.00 price target on Viper Energy in a report on Tuesday, September 30th. Finally, Barclays upped their price objective on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.20.

Viper Energy Trading Up 0.4%

Shares of Viper Energy stock opened at $38.78 on Friday. The company has a market capitalization of $13.94 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 23.09 and a beta of 0.48. The stock has a fifty day simple moving average of $38.02 and a 200 day simple moving average of $38.11. Viper Energy has a 12-month low of $34.71 and a 12-month high of $52.10. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million for the quarter, compared to the consensus estimate of $389.35 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 98.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNOM. JPMorgan Chase & Co. raised its stake in Viper Energy by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 428,168 shares of the oil and gas producer’s stock valued at $16,365,000 after acquiring an additional 124,259 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Viper Energy by 35.5% in the third quarter. New Mexico Educational Retirement Board now owns 34,700 shares of the oil and gas producer’s stock worth $1,326,000 after purchasing an additional 9,100 shares in the last quarter. Allworth Financial LP raised its position in shares of Viper Energy by 9.1% in the third quarter. Allworth Financial LP now owns 6,358 shares of the oil and gas producer’s stock valued at $243,000 after purchasing an additional 530 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of Viper Energy in the third quarter valued at approximately $290,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Viper Energy by 42,842,150.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 856,845 shares of the oil and gas producer’s stock valued at $32,749,000 after buying an additional 856,843 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.