Truist Financial Has Lowered Expectations for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its target price dropped by equities research analysts at Truist Financial from $58.00 to $52.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 15.92% from the stock’s previous close.

VNOM has been the topic of a number of other reports. Zacks Research downgraded shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Barclays increased their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Mizuho lifted their target price on shares of Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada assumed coverage on Viper Energy in a research report on Friday, May 29th. They issued an “outperform” rating and a $58.00 target price on the stock. Finally, Jefferies Financial Group upgraded Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, April 13th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.54.

Viper Energy Stock Up 1.1%

Shares of NASDAQ:VNOM opened at $44.86 on Monday. The business has a 50-day moving average price of $44.48 and a 200 day moving average price of $44.18. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of -140.18 and a beta of 0.40. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. Viper Energy’s revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Sell-side analysts expect that Viper Energy will post 2.36 EPS for the current year.

Institutional Trading of Viper Energy

Hedge funds have recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC acquired a new stake in Viper Energy during the 4th quarter worth approximately $1,543,000. Taylor Frigon Capital Management LLC acquired a new position in shares of Viper Energy in the fourth quarter worth $1,637,000. K.J. Harrison & Partners Inc acquired a new position in shares of Viper Energy in the fourth quarter worth $1,777,000. Oak Thistle LLC purchased a new stake in shares of Viper Energy during the fourth quarter worth $1,332,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Viper Energy during the fourth quarter worth $4,493,000. Institutional investors and hedge funds 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.