Viper Energy (NASDAQ:VNOM) Price Target Raised to $58.00

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price objective upped by stock analysts at Evercore ISI from $45.00 to $58.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the oil and gas producer's stock. Evercore ISI's target price would indicate a potential upside of 15.54% from the stock's previous close.

A number of other research analysts have also weighed in on VNOM. JPMorgan Chase & Co. lifted their price target on shares of Viper Energy from $43.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research note on Monday, December 2nd. They issued a "buy" rating and a $70.00 target price for the company. 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 note on Tuesday, December 17th. Bank of America started coverage on Viper Energy in a research report on Tuesday, November 26th. They set a "buy" rating and a $64.00 price objective for the company. Finally, Roth Mkm lifted their target price on Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. 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.com, Viper Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.36.

Viper Energy Trading Up 0.3 %

Shares of VNOM traded up $0.13 during trading hours on Wednesday, reaching $50.20. The stock had a trading volume of 924,323 shares, compared to its average volume of 704,905. The company has a market cap of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73. Viper Energy has a 52 week low of $30.21 and a 52 week high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $51.63 and a 200 day moving average of $47.46.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same period in the prior year, the company earned $1.10 earnings per share. The company's revenue for the quarter was down 28.5% compared to the same quarter last year. On average, sell-side analysts expect that Viper Energy will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

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

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.