Viper Energy (NASDAQ:VNOM) Upgraded at Seaport Research Partners

Viper Energy (NASDAQ:VNOM) was upgraded by investment analysts at Seaport Research Partners to a “strong-buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on the company. Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Royal Bank Of Canada began coverage on Viper Energy in a research note on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target for the company. Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Truist Financial cut their price target on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Morgan Stanley reduced their price objective on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Sixteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and an average target price of $56.93.

Viper Energy Stock Performance

Viper Energy stock opened at $44.89 on Wednesday. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $16.12 billion, a P/E ratio of 345.33 and a beta of 0.39. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13. The firm has a 50-day moving average of $43.23 and a 200-day moving average of $45.04.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.Viper Energy’s revenue was up 127.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. Sell-side analysts expect that Viper Energy will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Viper Energy during the fourth quarter valued at approximately $27,000. Parallel Advisors LLC boosted its position in shares of Viper Energy by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 322 shares in the last quarter. UMB Bank n.a. bought a new stake in shares of Viper Energy in the 4th quarter worth approximately $64,000. Clearstead Advisors LLC grew its stake in shares of Viper Energy by 50.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after buying an additional 654 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Viper Energy by 20.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 413 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

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.