Viper Energy (NASDAQ:VNOM) Announces Quarterly Earnings Results

Viper Energy (NASDAQ:VNOM) posted its earnings results on Monday. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19, Zacks reports. Viper Energy had a net margin of 24.24% and a return on equity of 8.10%. The company had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year.

Viper Energy Trading Up 9.7 %

Viper Energy stock opened at $43.08 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.46 and a quick ratio of 3.46. The firm has a 50-day moving average of $39.03 and a 200-day moving average of $37.28. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 15.84 and a beta of 1.74. Viper Energy has a one year low of $26.71 and a one year high of $43.50.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.79%. Viper Energy’s dividend payout ratio (DPR) is presently 39.71%.

Analyst Ratings Changes

Several brokerages recently commented on VNOM. Truist Financial raised their price objective on Viper Energy from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI boosted their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Piper Sandler increased their target price on Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. TD Securities lifted their price target on shares of Viper Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays increased their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

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.