Viper Energy (NASDAQ:VNOM) Announces Earnings Results, Beats Estimates By $0.04 EPS

Viper Energy (NASDAQ:VNOM) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04, Zacks reports. The company had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.51 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The firm’s revenue for the quarter was up 87.6% on a year-over-year basis. During the same period last year, the firm earned $2.04 EPS.

Viper Energy Price Performance

Shares of NASDAQ VNOM opened at $44.96 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. The firm has a market cap 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 1-year low of $34.71 and a 1-year high of $48.40. The stock has a fifty day simple moving average of $40.10 and a two-hundred day simple moving average of $38.74.

Institutional Investors Weigh In On Viper Energy

Large investors have recently added to or reduced their stakes in the business. Equitable Holdings Inc. purchased a new stake in shares of Viper Energy in the fourth quarter worth approximately $257,000. NewEdge Advisors LLC increased its position in shares of Viper Energy by 2,006.3% during the third quarter. NewEdge Advisors LLC now owns 6,403 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 6,099 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Viper Energy in the third quarter valued at approximately $218,000. Certuity LLC bought a new position in Viper Energy in the third quarter worth approximately $213,000. Finally, Vise Technologies Inc. bought a new stake in shares of Viper Energy in the third quarter valued at about $212,000. Institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VNOM. Mizuho increased their price objective on Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Wall Street Zen downgraded Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Wells Fargo & Company increased their target price on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Barclays cut their price objective on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $52.71.

Viper Energy Company Profile

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.