Viper Energy (NASDAQ:VNOM) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Viper Energy (NASDAQ:VNOM) released its earnings results on Monday. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02, Briefing.com reports. The company had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS.

Viper Energy Stock Performance

Shares of VNOM traded up $2.79 on Wednesday, reaching $55.42. 1,251,041 shares of the company’s stock traded hands, compared to its average volume of 1,094,213. The stock’s 50 day simple moving average is $48.71 and its two-hundred day simple moving average is $43.13. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy has a 52-week low of $27.61 and a 52-week high of $56.08. The stock has a market cap of $9.80 billion, a PE ratio of 23.79 and a beta of 1.72.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. Viper Energy’s payout ratio is presently 51.50%.

Wall Street Analyst Weigh In

A number of brokerages have commented on VNOM. Roth Mkm raised their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler boosted their price target on shares of Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Barclays raised their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday. TD Securities upped their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.25.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.