Raymond James Reiterates “Outperform” Rating for Viper Energy (NASDAQ:VNOM)

Viper Energy (NASDAQ:VNOM)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a research note issued on Tuesday,Benzinga reports. They currently have a $58.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $64.00. Raymond James’ price target would suggest a potential upside of 15.98% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Evercore ISI raised their price objective on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday. Roth Mkm raised their price target on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Bank of America began coverage on Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Stock Performance

Shares of VNOM opened at $50.01 on Tuesday. The stock’s 50-day simple moving average is $49.93 and its 200 day simple moving average is $48.82. Viper Energy has a 52-week low of $31.18 and a 52-week high of $56.76. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 21.46 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.

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 for the quarter, beating 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 firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was down 28.5% compared to the same quarter last year. Research analysts forecast that Viper Energy will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Viper Energy

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Viper Energy during the fourth quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in Viper Energy by 328.5% during the third 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 last quarter. GAMMA Investing LLC raised its stake in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 460 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares during the last quarter. Finally, National Bank of Canada FI raised 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 valued at $63,000 after buying an additional 1,165 shares during the last quarter. 87.72% of the stock is currently 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.