Viper Energy (NASDAQ:VNOM) Posts Earnings Results

Viper Energy (NASDAQ:VNOM) issued its quarterly earnings data on Monday. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03, FiscalAI reports. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $625.18 million. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue was up 58.1% on a year-over-year basis.

Viper Energy Trading Down 4.1%

Shares of VNOM opened at $45.72 on Tuesday. The stock has a fifty day moving average price of $43.85 and a two-hundred day moving average price of $44.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37. Viper Energy has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 351.72 and a beta of 0.50.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be given a $0.50 dividend. The ex-dividend date is Thursday, November 12th. This represents a $2.00 annualized dividend and a yield of 4.4%. Viper Energy’s payout ratio is presently 1,169.23%.

Analyst Ratings Changes

VNOM has been the topic of several analyst reports. Johnson Rice assumed coverage on shares of Viper Energy in a report on Monday, August 3rd. They issued an “accumulate” rating and a $55.00 target price on the stock. Citigroup dropped their target price on shares of Viper Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley boosted their price target on shares of Viper Energy from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Finally, TD boosted their price target on shares of Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $56.56.

About Viper Energy

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.