Evercore ISI Raises Viper Energy (NASDAQ:VNOM) Price Target to $58.00

Viper Energy (NASDAQ:VNOM) had its price target raised by equities research analysts at Evercore ISI from $45.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Evercore ISI’s price objective would suggest a potential upside of 15.84% from the company’s previous close.

VNOM has been the topic of a number of other reports. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Friday, December 13th. 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 target price on the stock. Barclays lifted their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Raymond James increased their price objective on Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.36.

Viper Energy Stock Down 0.9 %

Viper Energy stock opened at $50.07 on Wednesday. The firm has a 50 day moving average price of $51.63 and a 200-day moving average price of $47.46. 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 twelve month low of $30.21 and a twelve month high of $56.76. The company has a market capitalization of $9.43 billion, a P/E ratio of 21.49 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data 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. The business had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, equities analysts predict that Viper Energy will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Viper Energy

A number of large investors have recently added to or reduced their stakes in VNOM. State Street Corp increased its position in shares of Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after purchasing an additional 1,682,183 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Viper Energy by 12.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock worth $78,282,000 after buying an additional 224,021 shares in the last quarter. Geode Capital Management LLC grew its position in Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after acquiring an additional 234,048 shares during the last quarter. Merewether Investment Management LP raised its stake in shares of Viper Energy by 22.9% during the third quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock worth $38,822,000 after acquiring an additional 160,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Viper Energy by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock worth $28,206,000 after acquiring an additional 66,222 shares during the last quarter. Hedge funds and other 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.