Viper Energy (NASDAQ:VNOM) Announces Quarterly Earnings Results

Viper Energy (NASDAQ:VNOM) released its earnings results on Monday. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate 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. 4,254,849 shares of the company traded hands, compared to its average volume of 2,509,814. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 28.84 and a beta of 0.51. Viper Energy has a one year low of $34.71 and a one year 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. The business’s fifty day moving average is $39.99 and its 200-day moving average is $38.69.

Institutional Investors Weigh In On Viper Energy

Several institutional investors have recently bought and sold shares of the stock. Equitable Holdings Inc. bought a new stake in Viper Energy in the fourth quarter valued at about $257,000. NewEdge Advisors LLC boosted its position in Viper Energy by 2,006.3% in the 3rd quarter. NewEdge Advisors LLC now owns 6,403 shares of the oil and gas producer’s stock valued at $245,000 after buying an additional 6,099 shares during the last quarter. PharVision Advisers LLC bought a new stake in Viper Energy during the 3rd quarter worth about $218,000. Certuity LLC acquired a new position in Viper Energy in the third quarter valued at approximately $213,000. Finally, Vise Technologies Inc. bought a new stake in shares of Viper Energy during the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VNOM shares. Mizuho boosted their price target on Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Morgan Stanley decreased their price objective on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Barclays lowered 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 note on Wednesday, January 21st. Finally, Piper Sandler reduced their price target on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Viper Energy currently has a consensus 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.