Citigroup Raises Viper Energy (NASDAQ:VNOM) Price Target to $52.00

Viper Energy (NASDAQ:VNOM) had its price objective raised by equities researchers at Citigroup from $45.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s target price points to a potential upside of 15.63% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. TD Securities upped their price target on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho lifted their target price on Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Finally, Barclays lowered their price target on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.80.

Viper Energy Stock Down 1.1%

VNOM stock traded down $0.52 during midday trading on Wednesday, hitting $44.97. 1,266,075 shares of the company’s stock were exchanged, compared to its average volume of 2,543,661. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of -195.80, a price-to-earnings-growth ratio of 28.41 and a beta of 0.51. Viper Energy has a 12-month low of $34.71 and a 12-month high of $48.23. The firm has a 50 day moving average price of $40.23 and a 200-day moving average price of $38.80.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.51 million. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.79%. The company’s revenue for the quarter was up 87.6% on a year-over-year basis. During the same period last year, the firm posted $2.04 EPS. On average, analysts anticipate that Viper Energy will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VNOM. Financial Gravity Companies Inc. acquired a new stake in Viper Energy in the 2nd quarter valued at $27,000. Los Angeles Capital Management LLC acquired a new position in shares of Viper Energy during the 4th quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Viper Energy during the 3rd quarter worth approximately $31,000. Ameriflex Group Inc. acquired a new stake in shares of Viper Energy in the 3rd quarter valued at approximately $38,000. Finally, Assetmark Inc. grew its stake in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 350 shares in the last quarter. 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.