Equities research analysts at Johnson Rice initiated coverage on shares of Viper Energy (NASDAQ:VNOM – Get Free Report) in a note issued to investors on Monday. The firm set an “accumulate” rating and a $55.00 price target on the oil and gas producer’s stock. Johnson Rice’s target price suggests a potential upside of 25.46% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research report on Friday, July 17th. Raymond James Financial set a $57.00 price target on shares of Viper Energy in a report on Friday. Wells Fargo & Company increased their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Mizuho raised their target price on shares of Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.13.
Read Our Latest Research Report on Viper Energy
Viper Energy Stock Down 1.7%
Viper Energy (NASDAQ:VNOM – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 108.6% compared to the same quarter last year. Equities research analysts anticipate that Viper Energy will post 2.42 EPS for the current fiscal year.
Institutional Investors Weigh In On Viper Energy
Several large investors have recently made changes to their positions in VNOM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Viper Energy by 38.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock worth $2,162,000 after buying an additional 13,218 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Viper Energy by 264.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock worth $10,872,000 after purchasing an additional 174,684 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Viper Energy by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after acquiring an additional 37,847 shares during the period. Prudential Financial Inc. increased its holdings in Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock valued at $487,000 after buying an additional 3,005 shares during the period. Finally, Guggenheim Capital LLC increased its holdings in shares of Viper Energy by 6.5% in the 2nd quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock valued at $878,000 after acquiring an additional 1,405 shares during the period. 87.72% of the stock is owned by institutional investors.
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.
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