Viper Energy (NASDAQ:VNOM) Price Target Cut to $58.00 by Analysts at Barclays

Viper Energy (NASDAQ:VNOM) had its target price dropped by equities researchers at Barclays from $60.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price target points to a potential upside of 35.99% from the stock’s current price.

Several other research analysts have also recently commented on VNOM. Truist Financial reduced their target price on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, July 20th. Johnson Rice started coverage on shares of Viper Energy in a research report on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Roth Capital restated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.93.

Viper Energy Stock Up 0.9%

NASDAQ:VNOM traded up $0.36 during trading hours on Monday, reaching $42.65. 93,086 shares of the stock were exchanged, compared to its average volume of 2,366,629. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37. The firm has a 50 day moving average of $43.08 and a 200 day moving average of $44.84. The stock has a market cap of $15.32 billion, a PE ratio of 327.74 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $643.45 million. During the same period last year, the business earned $0.41 EPS. The business’s quarterly revenue was up 127.9% on a year-over-year basis. On average, equities analysts expect that Viper Energy will post 2.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VNOM. Cullen Capital Management LLC acquired a new stake in Viper Energy in the 2nd quarter valued at about $229,000. Ninepoint Partners LP bought a new stake in Viper Energy in the second quarter valued at approximately $10,600,000. Plato Investment Management Ltd acquired a new stake in shares of Viper Energy in the second quarter valued at approximately $325,000. Assenagon Asset Management S.A. bought a new position in shares of Viper Energy during the 2nd quarter worth approximately $10,792,000. Finally, GAMMA Investing LLC increased its holdings in shares of Viper Energy by 55.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,775 shares of the oil and gas producer’s stock worth $202,000 after acquiring an additional 1,713 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Company Profile

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.