Viper Energy saw its IBD SmartSelect Composite Rating jump to 96 Thursday, up from 94 the day before.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Viper Energy is currently extended beyond a proper buy zone after breaking out from a 41.22 buy point in a cup without handle.
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The stock earns a 93 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 93% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company reported 30% EPS growth for Q2. Revenue growth increased 35%, up from 22% in the prior quarter. That marks two quarters of rising growth. The company's next quarterly report is expected on or around Nov. 4.
Viper Energy holds the No. 2 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources is the No. 1-ranked stock within the group.
