Viper Energy (NASDAQ:VNOM) Releases Earnings Results, Beats Expectations By $0.12 EPS

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

Viper Energy Price Performance

Viper Energy stock opened at $43.69 on Tuesday. The stock’s fifty day moving average price is $46.66 and its two-hundred day moving average price is $43.45. Viper Energy has a one year low of $35.10 and a one year high of $51.13. 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 firm has a market cap of $15.69 billion, a PE ratio of -136.53 and a beta of 0.38.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. Viper Energy’s dividend payout ratio is currently -475.00%.

Institutional Trading of Viper Energy

Several large investors have recently modified their holdings of VNOM. Wellington Management Group LLP increased its position in shares of Viper Energy by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the period. Balyasny Asset Management L.P. lifted its position in Viper Energy by 7,413.0% during the third quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock worth $42,417,000 after purchasing an additional 1,095,052 shares during the period. Ninepoint Partners LP grew its stake in Viper Energy by 700.0% during the fourth quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer’s stock worth $46,356,000 after buying an additional 1,050,000 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Viper Energy by 21.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after buying an additional 1,024,838 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Viper Energy in the 3rd quarter valued at about $35,416,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on VNOM. Piper Sandler increased their price target on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Mizuho lifted their price objective on shares of Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Viper Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Monday, April 13th. Finally, Barclays raised their target price on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.38.

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.