Viper Energy (NASDAQ:VNOM) Given New $68.00 Price Target at Piper Sandler

Viper Energy (NASDAQ:VNOM) had its price objective increased by research analysts at Piper Sandler from $64.00 to $68.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective indicates a potential upside of 53.55% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Barclays lowered their price target on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Wells Fargo & Company raised their target price on Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley cut their price target on Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, Citigroup upped their price objective on shares of Viper Energy from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.71.

Viper Energy Trading Up 1.1%

Viper Energy stock traded up $0.48 during trading hours on Thursday, hitting $44.29. The stock had a trading volume of 1,362,579 shares, compared to its average volume of 3,258,845. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of -192.58 and a beta of 0.48. Viper Energy has a one year low of $34.71 and a one year high of $48.00. The business’s 50 day simple moving average is $41.62 and its 200-day simple moving average is $39.33.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.51 million. During the same period in the prior year, the business posted $2.04 earnings per share. The firm’s revenue was up 87.6% on a year-over-year basis. On average, equities analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Trading of Viper Energy

Several large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in Viper Energy by 1,672.3% in the fourth quarter. Pacer Advisors Inc. now owns 394,067 shares of the oil and gas producer’s stock worth $15,223,000 after purchasing an additional 371,832 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Viper Energy in the 4th quarter worth about $1,398,000. Strive Financial Group LLC purchased a new position in Viper Energy during the 4th quarter valued at about $97,000. Mercer Global Advisors Inc. ADV boosted its stake in Viper Energy by 5.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,498 shares of the oil and gas producer’s stock worth $290,000 after acquiring an additional 404 shares in the last quarter. Finally, Caitlin John LLC boosted its stake in Viper Energy by 10,886.7% during the fourth quarter. Caitlin John LLC now owns 8,240 shares of the oil and gas producer’s stock worth $318,000 after acquiring an additional 8,165 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.