Viper Energy (NASDAQ:VNOM) Price Target Lowered to $62.00 at Piper Sandler

Viper Energy (NASDAQ:VNOM - Get Free Report) had its price objective lowered by analysts at Piper Sandler from $63.00 to $62.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. Piper Sandler's price target points to a potential upside of 51.13% from the company's current price.

A number of other brokerages have also commented on VNOM. Wells Fargo & Company decreased their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group set a $72.00 price target on shares of Viper Energy in a research report on Monday, March 3rd. Raymond James reissued an "outperform" rating and issued a $58.00 price objective (down previously from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. Barclays raised their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Truist Financial dropped their price target on Viper Energy from $78.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Viper Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.85.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $1.46 during trading on Tuesday, reaching $41.02. 144,402 shares of the stock were exchanged, compared to its average volume of 1,287,382. The firm has a market cap of $8.74 billion, a PE ratio of 17.65 and a beta of 1.23. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 12 month low of $34.71 and a 12 month high of $56.76. The stock has a 50-day moving average price of $43.31 and a 200-day moving average price of $48.29.

Institutional Investors Weigh In On Viper Energy

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Viper Energy during the fourth quarter worth about $95,505,000. Freestone Grove Partners LP purchased a new position in Viper Energy during the 4th quarter worth $19,469,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Viper Energy by 20.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer's stock worth $113,324,000 after acquiring an additional 389,473 shares in the last quarter. Invesco Ltd. increased its stake in Viper Energy by 164.3% in the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock valued at $28,296,000 after buying an additional 358,487 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Viper Energy by 8.5% during the fourth quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer's stock worth $194,520,000 after acquiring an additional 310,890 shares during the period. 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.

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