Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results

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

Viper Energy Stock Down 2.1%

VNOM traded down $0.92 during trading hours on Monday, hitting $43.69. 1,593,450 shares of the company’s stock were exchanged, compared to its average volume of 2,410,702. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. Viper Energy has a 1-year low of $35.10 and a 1-year high of $51.13. The stock’s 50-day moving average is $43.82 and its two-hundred day moving average is $44.57. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of -136.53 and a beta of 0.40.

Wall Street Analysts Forecast Growth

VNOM has been the topic of several recent analyst reports. Roth Capital set a $52.00 price objective on Viper Energy in a report on Wednesday, July 15th. Johnson Rice began coverage on shares of Viper Energy in a report on Monday. They set an “accumulate” rating and a $55.00 target price on the stock. Morgan Stanley cut their price target on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Royal Bank Of Canada started coverage on shares of Viper Energy in a research report on Friday, May 29th. They set an “outperform” rating and a $58.00 price objective for the company. Finally, Truist Financial dropped their price objective on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.13.

Read Our Latest Research Report on VNOM

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Focus Partners Wealth bought a new position in shares of Viper Energy in the third quarter valued at $354,000. Utah Retirement Systems increased its stake in shares of Viper Energy by 29.3% during the 3rd quarter. Utah Retirement Systems now owns 8,829 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 2,000 shares during the last quarter. Caitlin John LLC increased its stake in shares of Viper Energy by 10,886.7% during the 4th quarter. Caitlin John LLC now owns 8,240 shares of the oil and gas producer’s stock worth $318,000 after purchasing an additional 8,165 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Viper Energy by 5.7% in the 4th 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 during the period. Finally, IHT Wealth Management LLC bought a new stake in shares of Viper Energy in the 4th quarter valued at about $269,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Company Profile

(Get Free Report)

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.

See Also

Earnings History for Viper Energy (NASDAQ:VNOM)

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