Viper Energy (NASDAQ:VNOM) Rating Increased to Strong-Buy at Seaport Research Partners

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

VNOM has been the topic of several other reports. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research note on Friday, May 29th. They issued an “outperform” rating and a $58.00 target price on the stock. Mizuho reduced their price target on shares of Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Raymond James Financial set a $57.00 price target on shares of Viper Energy in a report on Friday, July 31st. Morgan Stanley dropped their price objective on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, Truist Financial reduced their target price on Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and an average target price of $56.93.

Viper Energy Stock Down 0.5%

Shares of NASDAQ VNOM opened at $44.89 on Wednesday. Viper Energy has a one year low of $35.10 and a one year 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 business’s fifty day moving average price is $43.23 and its 200-day moving average price is $45.04. The stock has a market capitalization of $16.12 billion, a PE ratio of 345.33 and a beta of 0.39.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. Viper Energy’s revenue for the quarter was up 127.9% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, equities research analysts anticipate that Viper Energy will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. Los Angeles Capital Management LLC purchased a new stake in Viper Energy during the fourth quarter valued at about $27,000. Parallel Advisors LLC lifted its position in Viper Energy by 31.2% in the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 322 shares during the last quarter. UMB Bank n.a. bought a new stake in Viper Energy in the fourth quarter valued at approximately $64,000. Clearstead Advisors LLC boosted its stake in shares of Viper Energy by 50.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 654 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Viper Energy by 20.0% during the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 413 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.