Viper Energy (NASDAQ:VNOM) Now Covered by Analysts at Bank of America

Research analysts at Bank of America started coverage on shares of Viper Energy (NASDAQ:VNOM) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $64.00 price target on the oil and gas producer’s stock. Bank of America‘s price objective indicates a potential upside of 18.08% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. TD Securities boosted their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Raymond James boosted their price target on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial increased their price target on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.78.

Viper Energy Stock Down 4.2 %

Viper Energy stock opened at $54.20 on Tuesday. Viper Energy has a fifty-two week low of $29.03 and a fifty-two week 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 firm’s 50-day simple moving average is $50.73 and its 200 day simple moving average is $44.54. The stock has a market cap of $10.21 billion, a PE ratio of 23.26 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last posted its 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 for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. Research analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently made changes to their positions in the stock. State Street Corp grew its stake in Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after acquiring an additional 1,682,183 shares in the last quarter. Vanguard Group Inc. boosted its stake in Viper Energy by 23.3% during the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after buying an additional 1,603,333 shares during the period. Assenagon Asset Management S.A. grew its position in Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock worth $28,554,000 after buying an additional 582,247 shares in the last quarter. Yaupon Capital Management LP bought a new position in Viper Energy in the 3rd quarter worth about $18,044,000. Finally, Zimmer Partners LP raised its holdings in shares of Viper Energy by 344.0% in the 3rd quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock valued at $14,661,000 after acquiring an additional 251,800 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.