Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results

Viper Energy (NASDAQ:VNOM) released its quarterly earnings results on Monday. The oil and gas producer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02, Briefing.com reports. The business had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. Viper Energy’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share.

Viper Energy Trading Up 5.3 %

Shares of Viper Energy stock traded up $2.79 on Wednesday, hitting $55.42. The stock had a trading volume of 1,251,041 shares, compared to its average volume of 1,094,213. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. Viper Energy has a twelve month low of $27.61 and a twelve month high of $56.08. The stock has a 50 day moving average of $48.71 and a 200 day moving average of $43.13. The firm has a market capitalization of $9.80 billion, a P/E ratio of 23.79 and a beta of 1.72.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.17%. Viper Energy’s dividend payout ratio is presently 51.50%.

Analyst Ratings Changes

Several brokerages recently issued reports on VNOM. JPMorgan Chase & Co. boosted their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Roth Mkm increased their target price on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price target on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial boosted their target price on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.25.

About Viper Energy

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.