Viper Energy (NASDAQ:VNOM) Issues Earnings Results, Beats Estimates By $0.03 EPS

Viper Energy (NASDAQ:VNOM) announced its earnings results on Monday. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03, FiscalAI reports. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $625.18 million.

Viper Energy Stock Down 4.1%

VNOM stock traded down $1.96 during midday trading on Monday, hitting $45.72. The company’s stock had a trading volume of 2,177,463 shares, compared to its average volume of 2,242,937. The company’s fifty day moving average price is $43.84 and its 200 day moving average price is $44.29. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13. The stock has a market capitalization of $16.42 billion, a P/E ratio of 351.72 and a beta of 0.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37.

Wall Street Analyst Weigh In

Several brokerages recently commented on VNOM. TD Cowen reaffirmed a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Thursday, October 15th. Morgan Stanley increased their price objective on Viper Energy from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Royal Bank Of Canada boosted their price objective on shares of Viper Energy from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, October 9th. Finally, Truist Financial increased their price objective on Viper Energy from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $56.56.

About Viper Energy

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.