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

Viper Energy (NASDAQ:VNOM) had its price target boosted by stock analysts at Evercore ISI from $45.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Evercore ISI’s target price suggests a potential upside of 15.84% from the company’s previous close.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp raised 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. Piper Sandler reduced their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Truist Financial increased their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Securities lifted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.36.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $50.07 on Wednesday. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 21.49 and a beta of 1.73. 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’s fifty day moving average is $51.63 and its 200 day moving average is $47.46.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data 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. 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 the consensus estimate of $210.54 million. During the same period last year, the company earned $1.10 earnings per share. The firm’s revenue was down 28.5% compared to the same quarter last year. Sell-side analysts forecast that Viper Energy will post 2.01 EPS for the current year.

Institutional Trading of Viper Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in Viper Energy by 4,836.9% during the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock worth $3,365,000 after purchasing an additional 73,085 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Viper Energy in the 3rd quarter worth approximately $984,000. Geode Capital Management LLC increased its position in shares of 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. Amalgamated Bank purchased a new stake in shares of Viper Energy during the second quarter valued at approximately $616,000. Finally, Summit Global Investments bought a new stake in Viper Energy during the third quarter worth $706,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.