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

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

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $52.63 on Wednesday. The firm has a market capitalization of $9.31 billion, a P/E ratio of 22.59 and a beta of 1.72. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $48.56 and its 200 day simple moving average is $43.04. Viper Energy has a 12 month low of $27.61 and a 12 month high of $54.66.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. TD Securities boosted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Piper Sandler lifted their price objective on shares of Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Truist Financial boosted their target price on shares of Viper Energy from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

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.