StockNews.com Upgrades Viper Energy (NASDAQ:VNOM) to Hold

Viper Energy (NASDAQ:VNOM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities analysts have also issued research reports about the stock. KeyCorp raised shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. Barclays boosted their target price on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $58.00 price objective (down from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. 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 target price for the company. Finally, Piper Sandler dropped their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy Price Performance

NASDAQ VNOM opened at $44.64 on Tuesday. Viper Energy has a fifty-two week low of $34.45 and a fifty-two week high of $56.76. The stock’s 50-day moving average is $49.05 and its two-hundred day moving average is $49.52. The firm has a market cap of $9.51 billion, a P/E ratio of 19.16 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Viper Energy in the 4th quarter worth approximately $95,505,000. State Street Corp grew its position in Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after acquiring an additional 1,682,183 shares during the period. Yaupon Capital Management LP bought a new stake in Viper Energy in the third quarter valued at $18,044,000. Freestone Grove Partners LP acquired a new position in Viper Energy during the fourth quarter worth $19,469,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Viper Energy by 20.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer’s stock valued at $113,324,000 after acquiring an additional 389,473 shares during the period. Institutional investors own 87.72% of the company’s stock.

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.