Viper Energy (NASDAQ:VNOM) Releases Earnings Results, Misses Expectations By $0.03 EPS

Viper Energy (NASDAQ:VNOM) announced its earnings results on Monday. The oil and gas producer reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03), Zacks reports. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%.

Viper Energy Stock Down 2.1%

Shares of VNOM stock traded down $0.92 on Monday, reaching $43.69. 1,599,027 shares of the company’s stock traded hands, compared to its average volume of 2,413,449. Viper Energy has a 12-month low of $35.10 and a 12-month high of $51.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17. The company has a market capitalization of $15.69 billion, a P/E ratio of -136.53 and a beta of 0.40. The business’s 50 day moving average price is $43.82 and its two-hundred day moving average price is $44.57.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VNOM. Mizuho lifted their price target on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley reduced their price objective on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Raymond James Financial set a $57.00 target price on shares of Viper Energy in a research report on Friday. Zacks Research lowered shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research report on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target for the company. Sixteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.13.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors have recently bought and sold shares of the business. Alberta Investment Management Corp acquired a new position in shares of Viper Energy in the 4th quarter valued at about $1,398,000. Strive Financial Group LLC acquired a new stake in shares of Viper Energy during the fourth quarter worth approximately $97,000. Mercer Global Advisors Inc. ADV grew its position in Viper Energy by 5.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,498 shares of the oil and gas producer’s stock valued at $290,000 after purchasing an additional 404 shares in the last quarter. Caitlin John LLC grew its position in Viper Energy by 10,886.7% during the fourth quarter. Caitlin John LLC now owns 8,240 shares of the oil and gas producer’s stock valued at $318,000 after purchasing an additional 8,165 shares in the last quarter. Finally, Regal Partners Ltd grew its position in Viper Energy by 36.2% during the fourth quarter. Regal Partners Ltd now owns 75,130 shares of the oil and gas producer’s stock valued at $2,902,000 after purchasing an additional 19,968 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.