Barclays Boosts Viper Energy (NASDAQ:VNOM) Price Target to $60.00

Viper Energy (NASDAQ:VNOM) had its price target lifted by Barclays from $58.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price objective points to a potential upside of 26.75% from the company’s previous close.

Several other research firms also recently issued reports on VNOM. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 price objective for the company. Roth Mkm increased their price target on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Raymond James increased their target price on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Truist Financial reduced their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.91.

Viper Energy Trading Up 0.9 %

Shares of NASDAQ VNOM traded up $0.44 during midday trading on Monday, reaching $47.34. 2,884,999 shares of the stock were exchanged, compared to its average volume of 1,567,052. The stock has a 50 day moving average price of $50.17 and a 200-day moving average price of $48.74. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $8.92 billion, a P/E ratio of 20.35 and a beta of 1.71. Viper Energy has a 52-week low of $30.56 and a 52-week high of $56.76.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. Equities research analysts expect that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in Viper Energy during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its position in shares of Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 460 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Viper Energy during the fourth quarter worth $94,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Viper Energy

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.