Evercore ISI Issues Positive Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target raised by stock analysts at Evercore ISI from $45.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Evercore ISI’s price objective indicates a potential upside of 15.54% from the stock’s current price.

VNOM has been the topic of a number of other reports. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research report on Friday, December 13th. Barclays raised their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Raymond James increased their target price on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group initiated coverage on Viper Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price target on the stock. Finally, TD Securities increased their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.36.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $50.20 on Wednesday. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76. The firm has a market capitalization of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73. 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 company’s fifty day moving average price is $51.57 and its 200 day moving average price is $47.49.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business’s revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, sell-side analysts predict that Viper Energy will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Viper Energy by 524.8% in the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,165 shares during the period. Versant Capital Management Inc acquired a new stake in Viper Energy in the fourth quarter valued at approximately $94,000. Finally, Plato Investment Management Ltd increased its stake in Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,541 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.