Viper Energy (NASDAQ:VNOM) Posts Quarterly Earnings Results

Key Points

• Viper Energy beat quarterly expectations: The oil and gas producer reported earnings of $0.72 per share versus the $0.69 consensus estimate, while revenue reached $661 million, exceeding forecasts of $625.18 million.
• Shares declined 4.1% to $45.72 despite the earnings beat. Viper Energy reported a 2.89% net margin, 3.43% return on equity and a low debt-to-equity ratio of 0.16.
• Analysts remain broadly bullish: The stock has an average “Buy” rating and a consensus price target of $56.56, with recent target increases from TD and Morgan Stanley.

Viper Energy (NASDAQ:VNOM - Get Free Report) posted its earnings results on Monday. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.03, FiscalAI reports. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The firm had revenue of $661.00 million during the quarter, compared to analyst estimates of $625.18 million.

Viper Energy Stock Down 4.1%

Shares of VNOM traded down $1.96 during midday trading on Monday, hitting $45.72. The company had a trading volume of 2,177,463 shares, compared to its average volume of 2,242,937. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 351.72 and a beta of 0.48. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The company's 50 day moving average price is $43.84 and its 200 day moving average price is $44.29.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VNOM. TD lifted their target price on Viper Energy from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Viper Energy in a research report on Thursday, October 15th. Morgan Stanley increased their price target on shares of Viper Energy from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Raymond James Financial set a $57.00 price target on shares of Viper Energy in a research note on Friday, July 31st. Finally, TD Cowen reaffirmed a "buy" rating on shares of Viper Energy in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $56.56.

Viper Energy Company Profile

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.

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