Viper Energy (NASDAQ:VNOM) Earns Buy Rating from Analysts at Truist Financial

Research analysts at Truist Financial started coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $54.00 price target on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 14.07% from the company’s previous close.

VNOM has been the subject of a number of other research reports. Mizuho lifted their price objective on shares of Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. TD Securities increased their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Citigroup raised their target price on Viper Energy from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Piper Sandler lifted their price target on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Company upped their price target on Viper Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average price target of $51.93.

Viper Energy Stock Down 1.6%

Viper Energy stock opened at $47.34 on Tuesday. Viper Energy has a 1-year low of $34.71 and a 1-year high of $49.08. The business has a fifty day moving average price of $43.08 and a 200-day moving average price of $39.72. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of -205.82, a PEG ratio of 1.63 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data 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 negative net margin of 4.87% and a positive return on equity of 2.62%. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.51 million. During the same period last year, the firm posted $2.04 EPS. Viper Energy’s revenue was up 87.6% on a year-over-year basis. Equities research analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently modified their holdings of the business. Oaktree Capital Management LP acquired a new stake in shares of Viper Energy during the 3rd quarter worth approximately $240,215,000. Vanguard Group Inc. lifted its holdings in Viper Energy by 28.0% in the third quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock valued at $646,180,000 after acquiring an additional 3,699,141 shares during the last quarter. Capital World Investors lifted its holdings in Viper Energy by 18.7% in the third quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock valued at $474,821,000 after acquiring an additional 1,957,417 shares during the last quarter. HITE Hedge Asset Management LLC grew its position in Viper Energy by 452.4% in the third quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer’s stock worth $63,521,000 after acquiring an additional 1,361,130 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new position in Viper Energy in the fourth quarter worth approximately $52,087,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.