Bank of America Begins Coverage on Viper Energy (NASDAQ:VNOM)

Stock analysts at Bank of America assumed coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $64.00 price target on the oil and gas producer’s stock. Bank of America‘s target price would suggest a potential upside of 18.65% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Roth Mkm upped their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler upped their price objective on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Barclays lifted their price objective on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. TD Securities upped their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $55.78.

Viper Energy Trading Down 0.6 %

Shares of VNOM stock opened at $53.94 on Tuesday. The stock has a market cap of $10.16 billion, a P/E ratio of 23.15 and a beta of 1.72. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a fifty-two week low of $29.03 and a fifty-two week high of $56.76. The business has a fifty day simple moving average of $51.10 and a 200-day simple moving average of $44.72.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. On average, analysts forecast that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viper Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in shares of Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 450 shares during the period. GAMMA Investing LLC boosted its holdings in Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Viper Energy during the second quarter valued at about $36,000. National Bank of Canada FI increased its stake in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in shares of Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after purchasing an additional 2,550 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.