Viper Energy (NASDAQ:VNOM) Issues Earnings Results

Viper Energy (NASDAQ:VNOM) posted its quarterly earnings results on Monday. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76, Zacks reports. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 127.9% compared to the same quarter last year.

Viper Energy Price Performance

VNOM opened at $43.69 on Tuesday. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of -136.53 and a beta of 0.40. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $43.76 and its 200 day moving average price is $44.61.

Viper Energy Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 13th. Viper Energy’s dividend payout ratio (DPR) is presently -475.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VNOM shares. TD reduced their target price on shares of Viper Energy from $59.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Roth Capital set a $52.00 price target on Viper Energy in a research report on Wednesday, July 15th. Johnson Rice started coverage on Viper Energy in a research note on Monday. They set an “accumulate” rating and a $55.00 price objective for the company. Finally, Zacks Research lowered shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $57.13.

Institutional Investors Weigh In On Viper Energy

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in shares of Viper Energy in the 4th quarter valued at about $27,000. Parallel Advisors LLC boosted its stake in shares of Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 568 shares during the period. UMB Bank n.a. purchased a new position in shares of Viper Energy during the fourth quarter worth about $64,000. Strive Financial Group LLC purchased a new position in shares of Viper Energy during the fourth quarter worth about $97,000. Finally, Quarry LP increased its position in Viper Energy by 136.1% in the 4th quarter. Quarry LP now owns 2,800 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 1,614 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.