Viper Energy (NASDAQ:VNOM) Announces Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Viper Energy reported quarterly EPS of $0.76, missing the consensus estimate of $0.79 by $0.03. The company posted a negative net margin of 2.77% and a return on equity of 2.64%.
• Shares fell 2.1% to $43.69, giving Viper Energy a market capitalization of approximately $15.69 billion. The stock has traded between $35.10 and $51.13 over the past 52 weeks.
• Analyst sentiment remains favorable, with 16 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a $57.13 price target. Institutional investors own 87.72% of the company.

Viper Energy (NASDAQ:VNOM - Get Free Report) issued its quarterly earnings data on Monday. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03), Zacks reports. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%.

Viper Energy Trading Down 2.1%

VNOM traded down $0.92 during trading on Monday, reaching $43.69. 1,593,450 shares of the company's stock were exchanged, compared to its average volume of 2,410,702. The company's fifty day moving average price is $43.82 and its 200-day moving average price is $44.57. The firm has a market capitalization of $15.69 billion, a PE ratio of -136.53 and a beta of 0.40. Viper Energy has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors have recently made changes to their positions in VNOM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 13,218 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Viper Energy by 264.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer's stock worth $10,872,000 after acquiring an additional 174,684 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Viper Energy by 22.7% during the 1st 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 last quarter. Prudential Financial Inc. grew its holdings in Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer's stock valued at $487,000 after purchasing an additional 3,005 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Viper Energy by 6.5% during the second quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer's stock valued at $878,000 after purchasing an additional 1,405 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on VNOM. Johnson Rice started coverage on shares of Viper Energy in a research report on Monday. They set an "accumulate" rating and a $55.00 price target on the stock. Roth Capital set a $52.00 price target on shares of Viper Energy in a report on Wednesday, July 15th. Raymond James Financial set a $57.00 price objective on shares of Viper Energy in a research report on Friday. Royal Bank Of Canada began coverage on Viper Energy in a research report on Friday, May 29th. They issued an "outperform" rating and a $58.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Viper Energy from $60.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.13.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

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