Viper Energy (NASDAQ:VNOM) Releases Quarterly Earnings Results, Meets Estimates

Viper Energy (NASDAQ:VNOM) announced its quarterly earnings results on Monday. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76, Zacks reports. Viper Energy had a return on equity of 3.41% and a net margin of 2.89%.The company 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. Viper Energy’s revenue was up 127.9% compared to the same quarter last year.

Viper Energy Trading Down 3.1%

Viper Energy stock opened at $42.34 on Wednesday. Viper Energy has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of -132.31 and a beta of 0.40. The business’s fifty day simple moving average is $43.70 and its two-hundred day simple moving average is $44.64. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a $0.29 dividend. This represents a yield of 266.0%. The ex-dividend date of this dividend is Thursday, August 13th. Viper Energy’s payout ratio is -475.00%.

Analyst Ratings Changes

A number of brokerages recently commented on VNOM. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, April 13th. Morgan Stanley decreased their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Barclays upped their price target on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada started coverage on shares of Viper Energy in a report on Friday, May 29th. They set an “outperform” rating and a $58.00 target price on the stock. Finally, Raymond James Financial set a $57.00 price target on shares of Viper Energy in a research note on Friday. Seventeen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Hedge Funds Weigh In On Viper Energy

Large investors have recently modified their holdings of the stock. iSAM Funds UK Ltd purchased a new position in Viper Energy in the fourth quarter worth about $736,000. Brevan Howard Capital Management LP purchased a new stake in shares of Viper Energy during the second quarter valued at approximately $669,000. Twinbeech Capital LP purchased a new stake in shares of Viper Energy during the fourth quarter valued at approximately $591,000. Advisory Services Network LLC increased its position in shares of Viper Energy by 132.2% during the second quarter. Advisory Services Network LLC now owns 13,237 shares of the oil and gas producer’s stock valued at $498,000 after acquiring an additional 7,537 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Viper Energy in the 2nd quarter worth approximately $447,000. 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.