Raymond James Reiterates “Outperform” Rating for Viper Energy (NASDAQ:VNOM)

Viper Energy (NASDAQ:VNOM)‘s stock had its “outperform” rating reaffirmed by analysts at Raymond James in a research report issued on Wednesday,Benzinga reports. They currently have a $54.00 price target on the oil and gas producer’s stock, up from their prior price target of $52.00. Raymond James’ price objective would indicate a potential upside of 33.69% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Evercore ISI reissued an “outperform” rating and set a $49.00 price objective on shares of Viper Energy in a research report on Wednesday, May 7th. Barclays reduced their price target on Viper Energy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.15.

Viper Energy Stock Performance

Shares of VNOM traded up $0.25 during trading hours on Wednesday, reaching $40.39. 248,697 shares of the company’s stock traded hands, compared to its average volume of 1,310,198. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The business’s fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $46.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 17.32 and a beta of 1.05.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million during the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. During the same quarter last year, the firm posted $0.49 EPS. Analysts predict that Viper Energy will post 2.02 earnings per share for the current year.

Institutional Trading of Viper Energy

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in Viper Energy during the 4th quarter worth about $25,000. Quarry LP bought a new position in shares of Viper Energy during the fourth quarter worth about $32,000. Assetmark Inc. raised its position in Viper Energy by 321.7% in the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 518 shares during the last quarter. UMB Bank n.a. boosted its position in Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 414 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 214 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.