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

Viper Energy (NASDAQ:VNOM) had its target price dropped by equities researchers at Truist Financial from $58.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price suggests a potential upside of 16.22% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada began coverage on shares of Viper Energy in a research note on Friday, May 29th. They set an “outperform” rating and a $58.00 target price for the company. Raymond James Financial increased their price objective on Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. KeyCorp lifted their price objective on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Barclays upped their target price on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Friday. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.54.

Viper Energy Stock Up 0.8%

Viper Energy stock traded up $0.36 during mid-day trading on Monday, hitting $44.74. The company’s stock had a trading volume of 139,902 shares, compared to its average volume of 2,480,352. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy has a 52-week low of $35.10 and a 52-week high of $51.13. The firm’s 50 day moving average is $44.60 and its 200 day moving average is $44.10. The company has a market cap of $16.06 billion, a PE ratio of -139.79 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s quarterly revenue was up 108.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, analysts anticipate that Viper Energy will post 2.41 earnings per share for the current year.

Hedge Funds Weigh In On Viper Energy

Several hedge funds have recently bought and sold shares of VNOM. Stephens Inc. AR grew its position in shares of Viper Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer’s stock worth $645,000 after buying an additional 245 shares during the period. Kestra Advisory Services LLC raised its position in shares of Viper Energy by 1.2% in the 1st quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer’s stock valued at $1,027,000 after acquiring an additional 268 shares during the period. HB Wealth Management LLC raised its position in shares of Viper Energy by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock valued at $245,000 after acquiring an additional 317 shares during the period. Parallel Advisors LLC boosted its stake in Viper Energy by 31.2% during the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 322 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in Viper Energy by 1.8% during the first quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer’s stock valued at $988,000 after purchasing an additional 368 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.