JPMorgan Chase & Co. Has Lowered Expectations for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its target price cut by research analysts at JPMorgan Chase & Co. from $56.00 to $51.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.78% from the stock’s previous close.

VNOM has been the subject of a number of other reports. Truist Financial reduced their price target on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Evercore ISI boosted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays boosted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Viper Energy Price Performance

NASDAQ VNOM opened at $43.30 on Thursday. Viper Energy has a 52 week low of $35.46 and a 52 week high of $56.76. The company has a market cap of $9.23 billion, a PE ratio of 18.58 and a beta of 1.69. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $47.70 and its two-hundred day simple moving average is $49.17.

Institutional Trading of Viper Energy

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Viper Energy by 4,836.9% in the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock worth $3,365,000 after purchasing an additional 73,085 shares during the last quarter. Geode Capital Management LLC lifted its stake in Viper Energy by 16.0% in the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after purchasing an additional 234,048 shares during the last quarter. Retirement Systems of Alabama bought a new stake in Viper Energy in the third quarter worth $12,980,000. Principal Financial Group Inc. lifted its stake in Viper Energy by 3,200.2% in the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer’s stock worth $10,615,000 after purchasing an additional 228,177 shares during the last quarter. Finally, Barclays PLC lifted its stake in Viper Energy by 103.3% in the third quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer’s stock worth $1,982,000 after purchasing an additional 22,334 shares during the last quarter. 87.72% of the stock is owned by institutional investors.

About Viper Energy

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.