Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Viper Energy (NASDAQ:VNOM) released its earnings results on Monday. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19, Zacks reports. Viper Energy had a return on equity of 8.10% and a net margin of 24.24%. The firm had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 34.8% on a year-over-year basis.

Viper Energy Trading Up 9.7 %

Shares of VNOM opened at $43.08 on Wednesday. The stock has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $37.37. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.62 billion, a PE ratio of 15.84 and a beta of 1.74. Viper Energy has a 1 year low of $26.71 and a 1 year high of $43.50.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 15th. Viper Energy’s payout ratio is 39.71%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VNOM shares. Barclays raised their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Securities upped their price objective on shares of Viper Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Truist Financial lifted their target price on Viper Energy from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI upped their price target on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, Piper Sandler lifted their price objective on Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.