Viper Energy (NASDAQ:VNOM) Rating Lowered to Hold at Wall Street Zen

Viper Energy (NASDAQ:VNOM) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Viper Energy from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Zacks Research raised Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Johnson Rice initiated coverage on Viper Energy in a research report on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price target on the stock. Mizuho set a $57.00 price target on shares of Viper Energy in a research report on Tuesday, October 13th. Finally, Truist Financial raised their target price on Viper Energy from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Buy” and a consensus target price of $56.56.

Viper Energy Price Performance

NASDAQ VNOM opened at $47.68 on Friday. The company’s 50 day moving average is $43.84 and its two-hundred day moving average is $44.29. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13. 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 stock has a market cap of $17.13 billion, a price-to-earnings ratio of 366.80 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. Viper Energy’s quarterly revenue was up 127.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, research analysts anticipate that Viper Energy will post 2.83 earnings per share for the current year.

Institutional Trading of Viper Energy

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of Viper Energy in the first quarter valued at approximately $37,464,000. Ashford Capital Management Inc. acquired a new position in Viper Energy during the 1st quarter valued at $16,103,000. Recurrent Investment Advisors LLC boosted its position in Viper Energy by 36.9% in the first 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in Viper Energy during the 2nd quarter valued at approximately $10,792,000. Finally, Ninepoint Partners LP bought a new stake in Viper Energy during the 2nd quarter valued at $10,600,000. Institutional investors own 87.72% of the company’s stock.

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.