Piper Sandler Lifts PT on Viper Energy (VNOM) to $66 From $65, Keeps an Overweight Rating

Viper Energy, Inc. (NASDAQ:VNOM) is one of the most oversold energy stocks to buy right now. On July 17, Piper Sandler raised the firm’s price target on Viper Energy, Inc. (NASDAQ:VNOM) to $66 from $65 while keeping an Overweight rating on the shares.

The firm told investors that the E&P investing environment is continuing to be challenging coming out of the Q2 earnings season, as it is marked with rising geopolitical risk and a volatile oil price environment offset by higher OPEC+ supplies.

It added that strong secular gas-demand trends have also been offset by strong inventory builds and stubbornly high supplies. The firm also stated that it prefers a more defensive positioning in oil.

Headquartered in Midland, TX, Viper Energy, Inc. (NASDAQ:VNOM) acquires, owns, and exploits natural gas and oil properties in North America.

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Disclosure: None. This article is originally published at Insider Monkey.