Bank of America Begins Coverage on Viper Energy (NASDAQ:VNOM)

Investment analysts at Bank of America began coverage on shares of Viper Energy (NASDAQ:VNOM) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $64.00 price target on the oil and gas producer’s stock. Bank of America‘s price target would suggest a potential upside of 18.08% from the stock’s current price.

Other research analysts also recently issued reports about the company. Piper Sandler lifted their target price on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Barclays upped their target price on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm raised their price target 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. Truist Financial upped their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Raymond James lifted their target price on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.78.

Viper Energy Price Performance

Shares of VNOM opened at $54.20 on Tuesday. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market cap of $10.21 billion, a PE ratio of 23.26 and a beta of 1.72. Viper Energy has a 12-month low of $29.03 and a 12-month high of $56.76. The business has a 50-day simple moving average of $50.73 and a two-hundred day simple moving average of $44.54.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) 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 company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The firm’s revenue was down 28.5% compared to the same quarter last year. Analysts anticipate that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VNOM. State Street Corp grew its holdings in shares of Viper Energy by 78.2% during the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after buying an additional 1,682,183 shares during the last quarter. Vanguard Group Inc. lifted its position in Viper Energy by 23.3% in the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after acquiring an additional 1,603,333 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Viper Energy by 326.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock valued at $28,554,000 after purchasing an additional 582,247 shares during the last quarter. Yaupon Capital Management LP bought a new stake in Viper Energy during the 3rd quarter worth approximately $18,044,000. Finally, Zimmer Partners LP raised its stake in shares of Viper Energy by 344.0% in the third quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after purchasing an additional 251,800 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.