Viper Energy (NASDAQ:VNOM) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Viper Energy (NASDAQ:VNOM) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other analysts have also weighed in on VNOM. Truist Financial raised their price objective on shares of Viper Energy from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Scotiabank started coverage on shares of Viper Energy in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $54.00 target price for the company. Johnson Rice assumed coverage on Viper Energy in a report on Monday, August 3rd. They issued an “accumulate” rating and a $55.00 target price on the stock. Barclays reduced their target price on Viper Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Royal Bank Of Canada increased their price target on Viper Energy from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $56.56.

Viper Energy Trading Down 4.1%

Shares of Viper Energy stock opened at $45.72 on Friday. The stock has a market capitalization of $16.42 billion, a P/E ratio of 23.00 and a beta of 0.50. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $43.85 and a 200 day simple moving average of $44.33. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $625.18 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm’s quarterly revenue was up 58.1% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Research analysts expect that Viper Energy will post 2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VNOM. Stephens Investment Management Group LLC boosted its position in Viper Energy by 8.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,231,728 shares of the oil and gas producer’s stock valued at $57,879,000 after buying an additional 93,498 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Viper Energy by 13.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock valued at $57,485,000 after buying an additional 145,221 shares during the period. Recurrent Investment Advisors LLC increased its stake in shares of Viper Energy by 36.9% in the 1st quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock valued at $46,488,000 after buying an additional 266,703 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Viper Energy in the 1st quarter valued at $37,464,000. Finally, Bank of America Corp DE increased its stake in shares of Viper Energy by 24.0% in the 1st quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock valued at $37,373,000 after buying an additional 154,032 shares during the period. 87.72% of the stock is owned by institutional investors.

About Viper Energy

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.