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

Viper Energy (NASDAQ:VNOM) had its target price cut by research analysts at Piper Sandler from $68.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential upside of 75.87% from the stock’s current price.

A number of other brokerages also recently weighed in on VNOM. TD Securities set a $54.00 target price on shares of Viper Energy in a research note on Tuesday, September 30th. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the stock a “buy” rating in a report on Tuesday, August 26th. Jefferies Financial Group began coverage on shares of Viper Energy in a research report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price objective on the stock. Barclays upped their target price on shares of Viper Energy from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, KeyCorp lowered their price target on Viper Energy from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.13.

Viper Energy Price Performance

NASDAQ:VNOM traded down $0.22 during trading hours on Tuesday, hitting $36.39. 583,615 shares of the company’s stock traded hands, compared to its average volume of 1,709,261. Viper Energy has a 52 week low of $34.71 and a 52 week high of $56.76. The business’s fifty day simple moving average is $37.75 and its two-hundred day simple moving average is $38.69. The company has a quick ratio of 6.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $13.08 billion, a P/E ratio of 15.02, a P/E/G ratio of 16.86 and a beta of 0.89.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The company’s quarterly revenue was up 98.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, research analysts anticipate that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VNOM. Financial Gravity Companies Inc. bought a new position in Viper Energy during the 2nd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in Viper Energy in the third quarter valued at approximately $31,000. Ameriflex Group Inc. purchased a new stake in shares of Viper Energy during the third quarter valued at approximately $38,000. AlphaQuest LLC bought a new position in shares of Viper Energy in the first quarter worth approximately $41,000. Finally, Assetmark Inc. grew its holdings 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 worth $41,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.