FY2024 EPS Estimates for Viper Energy, Inc. (NASDAQ:VNOM) Cut by Analyst

Viper Energy, Inc. (NASDAQ:VNOM) – Investment analysts at Capital One Financial reduced their FY2024 earnings per share estimates for Viper Energy in a report released on Tuesday, May 21st. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $2.14 per share for the year, down from their previous estimate of $2.16. The consensus estimate for Viper Energy’s current full-year earnings is $1.86 per share.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The business had revenue of $205.39 million during the quarter, compared to the consensus estimate of $200.63 million. Viper Energy had a net margin of 24.24% and a return on equity of 8.10%.

A number of other brokerages also recently weighed in on VNOM. TD Securities lifted their target price on Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Piper Sandler raised their price objective on Viper Energy from $36.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Barclays started coverage on Viper Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $44.00 target price on the stock. Finally, Truist Financial boosted their price target on shares of Viper Energy from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $41.29.

Viper Energy Stock Performance

VNOM stock opened at $37.82 on Thursday. Viper Energy has a 1-year low of $24.48 and a 1-year high of $41.22. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $38.35 and a 200-day moving average price of $34.23. The firm has a market cap of $6.69 billion, a PE ratio of 13.90 and a beta of 1.78.

Viper Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a dividend yield of 2.9%. This is a boost from Viper Energy’s previous None dividend of $0.56. Viper Energy’s payout ratio is currently 39.71%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VNOM. Cannon Global Investment Management LLC bought a new stake in Viper Energy during the 4th quarter valued at about $631,000. Vanguard Group Inc. raised its holdings in Viper Energy by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock worth $16,741,000 after acquiring an additional 70,815 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Viper Energy by 18.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock valued at $5,697,000 after purchasing an additional 28,800 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Viper Energy by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,827,514 shares of the oil and gas producer’s stock worth $50,951,000 after purchasing an additional 21,977 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Viper Energy in the third quarter worth $1,747,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Company Profile

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.