Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Viper Energy (NASDAQ:VNOM) announced its quarterly earnings results on Monday. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03, Zacks reports. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded down $0.68 during trading on Monday, hitting $44.96. The stock had a trading volume of 4,254,849 shares, compared to its average volume of 2,509,814. The stock has a 50-day simple moving average of $39.99 and a two-hundred day simple moving average of $38.69. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 28.84 and a beta of 0.51. Viper Energy has a 12-month low of $34.71 and a 12-month high of $48.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On Viper Energy

Hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in Viper Energy in the 4th quarter worth about $27,000. Parallel Advisors LLC lifted its stake in Viper Energy by 68.3% during the 3rd 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 in the last quarter. UMB Bank n.a. acquired a new position in shares of Viper Energy in the fourth quarter valued at approximately $64,000. Strive Financial Group LLC acquired a new position in Viper Energy during the 4th quarter worth $97,000. Finally, Quarry LP lifted its stake in Viper Energy by 136.1% in the fourth quarter. Quarry LP now owns 2,800 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 1,614 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Barclays dropped their target price on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Piper Sandler decreased their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.71.

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.