KeyCorp Lowers Viper Energy (NASDAQ:VNOM) Price Target to $56.00

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price objective decreased by KeyCorp from $62.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas producer's stock. KeyCorp's target price would suggest a potential upside of 38.00% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Viper Energy from $51.00 to $49.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Truist Financial cut their price target on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday. StockNews.com upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.92.

Viper Energy Trading Down 1.9 %

VNOM stock traded down $0.79 during midday trading on Monday, hitting $40.58. 249,788 shares of the company's stock were exchanged, compared to its average volume of 1,286,528. Viper Energy has a one year low of $34.71 and a one year high of $56.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The company has a market cap of $8.65 billion, a PE ratio of 17.42 and a beta of 1.23. The stock's fifty day moving average price is $43.52 and its 200-day moving average price is $48.36.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama bought a new position in Viper Energy in the third quarter valued at about $12,980,000. Principal Financial Group Inc. boosted its stake in shares of Viper Energy by 3,200.2% in the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock valued at $10,615,000 after purchasing an additional 228,177 shares in the last quarter. Barclays PLC grew its holdings in shares of Viper Energy by 103.3% during the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock valued at $1,982,000 after purchasing an additional 22,334 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Viper Energy during the 4th quarter valued at approximately $358,000. Finally, Rhumbline Advisers increased its position in Viper Energy by 6.4% during the 4th quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock worth $13,165,000 after purchasing an additional 16,172 shares in the last quarter. Institutional investors and hedge funds 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.

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