Evercore ISI Forecasts Strong Price Appreciation for Viper Energy (NASDAQ:VNOM) Stock

Viper Energy (NASDAQ:VNOM) had its target price upped by research analysts at Evercore ISI from $45.00 to $58.00 in a note issued to 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 points to a potential upside of 15.54% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group began coverage on Viper Energy in a report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target for the company. Bank of America began coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Roth Mkm upped their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, Piper Sandler lowered their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.36.

Viper Energy Price Performance

Shares of VNOM stock opened at $50.20 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The company has a market capitalization of $9.46 billion, a PE ratio of 21.55 and a beta of 1.73. The firm’s 50-day moving average is $51.57 and its two-hundred day moving average is $47.49. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. Analysts predict that Viper Energy will post 2.01 earnings per share for the current year.

Institutional Trading of Viper Energy

A number of large investors have recently made changes to their positions in VNOM. Farther Finance Advisors LLC grew its holdings in 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 worth $26,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Viper Energy by 208.1% during the third 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. National Bank of Canada FI increased its holdings 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 during the last quarter. Versant Capital Management Inc purchased a new position in Viper Energy in the fourth quarter valued at $94,000. Finally, Plato Investment Management Ltd raised its stake in Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other 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.