Viper Energy (NASDAQ:VNOM) Stock Price Expected to Rise, Truist Financial Analyst Says

Viper Energy (NASDAQ:VNOM) had its target price hoisted by stock analysts at Truist Financial from $64.00 to $71.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 40.96% from the company’s previous close.

Several other research firms have also recently commented on VNOM. JPMorgan Chase & Co. boosted their price target on shares of Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Barclays boosted their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group initiated coverage on Viper Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Viper Energy Price Performance

VNOM stock opened at $50.37 on Monday. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a one year low of $30.21 and a one year high of $56.76. The firm has a market capitalization of $9.49 billion, a PE ratio of 21.62 and a beta of 1.73. The firm has a 50-day moving average of $51.43 and a two-hundred day moving average of $47.91.

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, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. On average, analysts forecast that Viper Energy will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Commonwealth Equity Services LLC boosted its position in Viper Energy by 33.3% during the second quarter. Commonwealth Equity Services LLC now owns 18,606 shares of the oil and gas producer’s stock worth $698,000 after purchasing an additional 4,653 shares during the period. Rhumbline Advisers bought a new stake in Viper Energy during the second quarter worth approximately $3,076,000. Victory Capital Management Inc. bought a new stake in Viper Energy during the second quarter worth approximately $1,081,000. American Century Companies Inc. boosted its position in Viper Energy by 14.0% during the second quarter. American Century Companies Inc. now owns 24,119 shares of the oil and gas producer’s stock worth $905,000 after purchasing an additional 2,962 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in Viper Energy by 45.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 21,102 shares of the oil and gas producer’s stock worth $792,000 after purchasing an additional 6,566 shares during the period. 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.