Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Viper Energy reported $0.41 earnings per share for the quarter, exceeding analysts' estimates of $0.32 by $0.09, and recorded a net margin of 43.43%.
• The company announced a quarterly dividend of $0.30, which translates to an annualized payout of $1.20 and a yield of 3.2%.
• Institutional investors hold 87.72% of Viper Energy's stock, with significant increases in shares owned by firms like Goldman Sachs, which raised its position by 264.2% in the first quarter.

Viper Energy (NASDAQ:VNOM - Get Free Report) released its earnings results on Monday. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07, Zacks reports. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. The business had revenue of $297.00 million during the quarter, compared to analysts' expectations of $285.35 million. During the same quarter last year, the firm posted $0.62 earnings per share. The firm's revenue was up 37.1% on a year-over-year basis.

Viper Energy Stock Up 2.5%

VNOM stock opened at $37.50 on Tuesday. Viper Energy has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a quick ratio of 8.70, a current ratio of 8.70 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $39.00 and its 200-day moving average is $42.10. The firm has a market capitalization of $10.82 billion, a PE ratio of 9.87, a P/E/G ratio of 16.43 and a beta of 0.99.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is currently 31.58%.

Analysts Set New Price Targets

Several equities research analysts recently commented on VNOM shares. Barclays raised their target price on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. TD Securities raised their target price on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. reduced their price objective on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Bank of America reduced their price objective on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Finally, Wall Street Zen raised Viper Energy from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Viper Energy has an average rating of "Moderate Buy" and an average price target of $57.23.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VNOM. Goldman Sachs Group Inc. lifted its holdings in shares of Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer's stock valued at $10,872,000 after purchasing an additional 174,684 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Viper Energy by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer's stock worth $9,233,000 after acquiring an additional 37,847 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Viper Energy by 38.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer's stock worth $2,162,000 after acquiring an additional 13,218 shares during the period. Institutional investors own 87.72% of the company's stock.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.