Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results, Hits Expectations

Viper Energy (NASDAQ:VNOM – Get Free Report) released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76, Zacks reports. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The company’s revenue was up 127.9% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS.

Viper Energy Price Performance

NASDAQ VNOM traded down $2.78 on Wednesday, reaching $43.18. The company’s stock had a trading volume of 2,207,341 shares, compared to its average volume of 2,253,389. Viper Energy has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $15.51 billion, a PE ratio of 332.18 and a beta of 0.39. The business has a 50-day moving average price of $43.77 and a 200 day moving average price of $45.04.

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Viper Energy Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a yield of 281.0%. Viper Energy’s payout ratio is presently 1,169.23%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VNOM shares. TD Cowen reissued a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Zacks Research cut shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Morgan Stanley reduced their target price 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. Barclays decreased their price target on Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Finally, Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $56.93.

Check Out Our Latest Research Report on VNOM

About Viper Energy

(Get Free Report)

Viper Energy, Inc (NASDAQ:VNOM) is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.

Viper’s asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.

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