Viper Energy (NASDAQ:VNOM) Announces Earnings Results

Viper Energy (NASDAQ:VNOM - Get Free Report) issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.12, Zacks reports. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business had revenue of $511.00 million for the quarter, compared to analysts' expectations of $499.81 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business's quarterly revenue was up 108.6% compared to the same quarter last year.

Viper Energy Stock Down 0.8%

Shares of NASDAQ VNOM traded down $0.38 during mid-day trading on Tuesday, reaching $48.74. 940,812 shares of the company's stock traded hands, compared to its average volume of 2,747,054. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. The business has a 50-day simple moving average of $46.75 and a 200 day simple moving average of $42.21. The stock has a market cap of $17.50 billion, a P/E ratio of -152.30 and a beta of 0.42. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, May 14th. Viper Energy's payout ratio is -475.00%.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in Viper Energy during the fourth quarter valued at about $27,000. Parallel Advisors LLC raised its position in Viper Energy by 68.3% in the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer's stock worth $54,000 after acquiring an additional 568 shares during the period. UMB Bank n.a. purchased a new position in Viper Energy in the fourth quarter valued at about $64,000. Strive Financial Group LLC purchased a new position in Viper Energy in the fourth quarter valued at about $97,000. Finally, Quarry LP grew its position in shares of Viper Energy by 136.1% during the 4th quarter. Quarry LP now owns 2,800 shares of the oil and gas producer's stock valued at $108,000 after acquiring an additional 1,614 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VNOM shares. TD Securities increased their price target on Viper Energy from $54.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Roth Mkm reiterated a "buy" rating and issued a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Viper Energy in a research report on Monday, April 20th. KeyCorp increased their target price on shares of Viper Energy from $56.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $56.50.

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.