Viper Energy (NASDAQ:VNOM) Posts 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, topping analysts’ consensus estimates of $0.42 by $0.19, Zacks reports. Viper Energy had a net margin of 24.24% and a return on equity of 8.10%. The company had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 34.8% compared to the same quarter last year.

Viper Energy Stock Performance

NASDAQ VNOM traded up $1.89 during trading on Wednesday, hitting $44.97. The company’s stock had a trading volume of 290,102 shares, compared to its average volume of 951,207. Viper Energy has a 52 week low of $26.71 and a 52 week high of $45.00. The firm has a market cap of $7.95 billion, a P/E ratio of 16.28 and a beta of 1.74. The firm has a 50 day moving average price of $39.12 and a 200 day moving average price of $37.37. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.38.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.67%. Viper Energy’s payout ratio is 39.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Securities raised their price target on Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays boosted their target price on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Truist Financial raised their target price on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.29.

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.