Viper Energy (NASDAQ:VNOM) Stock Gets Downgrade from Wall Street Zen

Viper Energy (NASDAQ:VNOM – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other analysts also recently issued reports on the stock. Johnson Rice assumed coverage on shares of Viper Energy in a report on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price target for the company. Zacks Research raised shares of Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Mizuho decreased their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Finally, Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.53.

Get Our Latest Stock Analysis on Viper Energy

Viper Energy Price Performance

Viper Energy stock opened at $43.37 on Friday. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13. The stock has a market cap of $15.58 billion, a P/E ratio of 333.64 and a beta of 0.50. The company has a 50-day moving average price of $42.95 and a 200 day moving average price of $44.49. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM – Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. Viper Energy’s quarterly revenue was up 127.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Sell-side analysts anticipate that Viper Energy will post 2.72 earnings per share for the current year.

Hedge Funds Weigh In On Viper Energy

Several large investors have recently made changes to their positions in the stock. Bornite Capital Management LP increased its holdings in Viper Energy by 50.0% in the 4th quarter. Bornite Capital Management LP now owns 1,500,000 shares of the oil and gas producer’s stock valued at $57,945,000 after purchasing an additional 500,000 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Viper Energy by 8.2% in the first quarter. Stephens Investment Management Group LLC now owns 1,231,728 shares of the oil and gas producer’s stock valued at $57,879,000 after purchasing an additional 93,498 shares during the period. Bank of New York Mellon Corp lifted its stake in Viper Energy by 13.5% during the first quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock worth $57,485,000 after purchasing an additional 145,221 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Viper Energy during the fourth quarter worth $52,087,000. Finally, Recurrent Investment Advisors LLC lifted its stake in Viper Energy by 36.9% during the first quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock worth $46,488,000 after purchasing an additional 266,703 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Company Profile

(Get Free Report)

Viper Energy, Inc (NASDAQ: VNOM) is an oil and gas company that owns and acquires mineral, royalty and overriding royalty interests in properties operated primarily by other exploration and production companies. Its interests provide exposure to production from wells without requiring Viper to fund most drilling and completion activities.

The company’s assets are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s interests are associated mainly with oil and natural gas development and generate revenue from its share of production, while its broad and diversified ownership position spans numerous wells and acreage holdings.

Viper Energy was established as Viper Energy Partners and became a publicly traded master limited partnership in 2014.

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Analyst Recommendations for Viper Energy (NASDAQ:VNOM)

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