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

Viper Energy (NASDAQ:VNOM) had its price target reduced by investment analysts at TD from $59.00 to $58.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. TD’s price target indicates a potential upside of 28.49% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Roth Capital set a $52.00 price objective on shares of Viper Energy in a report on Wednesday, July 15th. Truist Financial dropped their target price on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday. Mizuho upped their target price on shares of Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Raymond James Financial raised their price target on shares of Viper Energy from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.57.

Viper Energy Price Performance

NASDAQ:VNOM opened at $45.14 on Wednesday. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The firm has a market cap of $16.21 billion, a PE ratio of -141.06 and a beta of 0.40. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13. The company’s 50-day moving average price is $44.36 and its two-hundred day moving average price is $44.27.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $499.81 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 108.6% on a year-over-year basis. On average, equities analysts anticipate that Viper Energy will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Viper Energy in the fourth quarter valued at approximately $27,000. Parallel Advisors LLC boosted its stake 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 acquiring an additional 322 shares during the last quarter. UMB Bank n.a. acquired a new stake in Viper Energy during the 4th quarter worth $64,000. Nisa Investment Advisors LLC grew its holdings in Viper Energy by 256.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock worth $69,000 after acquiring an additional 1,291 shares during the period. Finally, Clearstead Advisors LLC raised its position in shares of Viper Energy by 50.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 654 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Company Profile

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.