Viper Energy (NASDAQ:VNOM) Announces Earnings Results, Meets Expectations

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

Viper Energy Price Performance

Shares of Viper Energy stock traded up $0.51 during trading on Tuesday, hitting $44.90. 638,964 shares of the company were exchanged, compared to its average volume of 2,278,916. Viper Energy has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $43.31 and a 200 day moving average price of $45.04. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 345.41 and a beta of 0.39.

Viper Energy Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on VNOM shares. Roth Capital restated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Zacks Research downgraded shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Wells Fargo & Company raised their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Morgan Stanley decreased their price objective on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Finally, Wall Street Zen cut 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.93.

Hedge Funds Weigh In On Viper Energy

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in shares of Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock valued at $443,918,000 after acquiring an additional 1,144,863 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock valued at $220,637,000 after purchasing an additional 1,024,838 shares during the last quarter. State Street Corp raised its stake in Viper Energy by 2.9% in the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after purchasing an additional 148,503 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Viper Energy by 30.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,801,010 shares of the oil and gas producer’s stock valued at $107,055,000 after purchasing an additional 656,333 shares in the last quarter. Finally, Boston Partners lifted its holdings in Viper Energy by 10.8% in the 3rd quarter. Boston Partners now owns 2,485,395 shares of the oil and gas producer’s stock valued at $95,080,000 after purchasing an additional 242,259 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Company Profile

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.