Truist Financial Issues Pessimistic Forecast for Viper Energy (NASDAQ:VNOM) Stock Price

Viper Energy (NASDAQ:VNOM) had its price target dropped by Truist Financial from $78.00 to $68.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 39.63% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Bank of America began coverage on Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price target for the company. Raymond James boosted their target price on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group assumed coverage on shares of Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target on the stock. Barclays upped their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

Viper Energy Stock Performance

VNOM stock opened at $48.70 on Monday. Viper Energy has a 1 year low of $30.56 and a 1 year high of $56.76. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 20.90 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The stock’s fifty day moving average is $50.04 and its two-hundred day moving average is $48.78.

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

Hedge Funds Weigh In On Viper Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Golden State Wealth Management LLC acquired a new position in Viper Energy in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC grew its position in shares of Viper Energy by 328.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC increased its stake in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 214 shares during the period. Finally, National Bank of Canada FI lifted its stake in Viper Energy by 524.8% in the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,165 shares in 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.