Viper Energy had its Relative Strength (RS) Rating upgraded from 69 to 77 Thursday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if Viper Energy can continue to rebound and clear that threshold.
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Viper Energy is building a consolidation with a 56.76 entry. See if it can break out in volume at least 40% above average. Note that it's a third-stage base. Such patterns can work and do sometimes launch nice runs, but, statistically, they're more likely to fail than earlier-stage consolidations.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -55% to 188%. Revenue rose from -29% to 12%.
The company earns the No. 7 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Range Resources and Coterra Energy are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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