Viper Energy (NASDAQ:VNOM) Upgraded by StockNews.com to Hold Rating

Viper Energy (NASDAQ:VNOM - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Tuesday.

VNOM has been the topic of a number of other reports. KeyCorp upgraded Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. Bank of America assumed coverage on Viper Energy in a report on Tuesday, November 26th. They set a "buy" rating and a $64.00 price objective on the stock. Truist Financial reduced their price objective on Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Viper Energy from $43.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group assumed coverage on Viper Energy in a report on Monday, December 2nd. They set a "buy" rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.55.

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Viper Energy Price Performance

NASDAQ VNOM traded up $1.03 during trading hours on Tuesday, reaching $46.57. 1,432,720 shares of the company's stock were exchanged, compared to its average volume of 1,217,212. The stock has a market cap of $9.92 billion, a PE ratio of 19.99 and a beta of 1.71. Viper Energy has a one year low of $34.45 and a one year high of $56.76. The firm has a fifty day moving average of $48.98 and a 200-day moving average of $49.49. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. Raymond James Financial Inc. bought a new position in Viper Energy during the fourth quarter worth about $95,505,000. State Street Corp raised its stake 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 purchasing an additional 1,682,183 shares during the period. Yaupon Capital Management LP acquired a new stake in shares of Viper Energy in the 3rd quarter valued at about $18,044,000. Freestone Grove Partners LP acquired a new stake in shares of Viper Energy in the 4th quarter valued at about $19,469,000. Finally, T. Rowe Price Investment Management Inc. raised 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 valued at $113,324,000 after purchasing an additional 389,473 shares during the period. 87.72% of the stock is currently owned by 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.