Truist Financial Issues Pessimistic Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price target lowered by equities research analysts at Truist Financial from $78.00 to $68.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. Truist Financial's target price indicates a potential upside of 36.79% from the company's current price.

A number of other research firms have also issued reports on VNOM. KeyCorp upgraded Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price target for the company in a research report on Friday, December 13th. Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Bank of America began coverage on Viper Energy in a research report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 target price on the stock. Evercore ISI boosted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Finally, Piper Sandler lowered their price objective on shares of Viper Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Viper Energy has an average rating of "Moderate Buy" and a consensus target price of $59.55.

Viper Energy Price Performance

VNOM stock traded down $0.30 during trading on Monday, hitting $49.71. The stock had a trading volume of 1,974,706 shares, compared to its average volume of 1,971,103. Viper Energy has a twelve month low of $31.39 and a twelve month high of $56.76. The company's 50-day moving average price is $49.85 and its two-hundred day moving average price is $48.83. 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 stock has a market capitalization of $9.37 billion, a P/E ratio of 21.33 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million during 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 firm's revenue for the quarter was down 28.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, research analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Viper Energy by 78.2% in the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer's stock valued at $172,918,000 after buying an additional 1,682,183 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer's stock valued at $76,647,000 after purchasing an additional 234,048 shares during the last quarter. Merewether Investment Management LP boosted its position in shares of Viper Energy by 22.9% in the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer's stock valued at $38,822,000 after purchasing an additional 160,600 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Viper Energy by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 632,568 shares of the oil and gas producer's stock worth $31,040,000 after buying an additional 7,307 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new position in Viper Energy during the third quarter worth approximately $18,044,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

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.