Viper Energy (VNOM) Completes Riverbend Oil and Gas IX Acquisition
Viper Energy (VNOM) Completes Riverbend Oil and Gas IX Acquisition.
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Viper Energy Inc. (NASDAQ: VNOM ) is one of the 10 oversold NASDAQ stocks to invest in right now .
On July 1, Viper Energy Inc. (NASDAQ:VNOM) announced that it had concluded the acquisition of Riverbend Oil and Gas IX. Viper paid roughly $337 million in cash and around 3.7 million of its Class A common shares to the sellers, Riverbend Oil & Gas IX (AIV), L.L.C., and ROG IX, L.L.C.
The $337 million in cash consideration was paid through the existing cash balance, along with the company's credit facility.
On June 29, Devin McDermott from Morgan Stanley decreased the target price on Viper Energy Inc. (NASDAQ:VNOM) from $49 to $46, which still results in an upside potential of over 13% at the current level.
The analyst reaffirmed an Overweight rating on the stock, pointing to the recent dip in oil prices, as the United States and Iran agreed on an MOU back in mid-June. He also highlighted that the WTI is now slightly above the pre-conflict range.
The broader consensus sentiment around the stock remained highly bullish as of the July 7 closing. The stock received Buy ratings from all 14 analysts who provided coverage. Based on a median 1-year target price of $57.69, it offers an upside potential of more than 35%.
Viper Energy Inc. (NASDAQ:VNOM) manages a wide range of oil and natural gas properties across North America. The company owns and acquires mineral and royalty interests and serves as a subsidiary of the parent company, Diamondback Energy Inc.
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Sinergia Empresarial continuará el seguimiento de esta información sobre viper Energy (VNOM) Completes Riverbend Oil and Gas IX Acquisition y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
