Viper Energy (VNOM) Completes Riverbend Oil and Gas IX Acquisition

On July 1, Viper Energy Inc. (NASDAQ:VNOM) announced that it had concluded the acquisition of Riverbend Oil and Gas IX. Viper paid astir $337 cardinal successful currency and astir 3.7 cardinal of its Class A communal shares to the sellers, Riverbend Oil & Gas IX (AIV), L.L.C., and ROG IX, L.L.C.

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The $337 cardinal successful currency information was paid done the existing currency balance, on with the company's recognition facility.

On June 29, Devin McDermott from Morgan Stanley decreased the people terms connected Viper Energy Inc. (NASDAQ:VNOM) from $49 to $46, which inactive results successful an upside imaginable of implicit 13% astatine the existent level.

The expert reaffirmed an Overweight standing connected the stock, pointing to the caller dip successful lipid prices, arsenic the United States and Iran agreed connected an MOU backmost successful mid-June. He besides highlighted that the WTI is present somewhat supra the pre-conflict range.

The broader statement sentiment astir the banal remained highly bullish arsenic of the July 7 closing. The banal received Buy ratings from each 14 analysts who provided coverage. Based connected a median 1-year people terms of $57.69, it offers an upside imaginable of much than 35%.

Viper Energy Inc. (NASDAQ:VNOM) manages a wide scope of lipid and earthy state properties crossed North America. The institution owns and acquires mineral and royalty interests and serves arsenic a subsidiary of the genitor company, Diamondback Energy Inc.

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