Viper Energy (NASDAQ:VNOM) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Viper Energy (NASDAQ:VNOM) released its earnings results on Monday. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01, Zacks reports. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%.

Viper Energy Price Performance

Shares of VNOM stock traded down $1.02 during mid-day trading on Monday, reaching $47.31. The company’s stock had a trading volume of 2,112,126 shares, compared to its average volume of 1,832,514. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The company has a market cap of $10.08 billion, a P/E ratio of 20.30 and a beta of 1.71. Viper Energy has a 1-year low of $34.45 and a 1-year high of $56.76. The firm’s 50-day moving average is $49.30 and its two-hundred day moving average is $49.54.

Viper Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VNOM. Piper Sandler reduced their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Bank of America began coverage on Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price for the company. Evercore ISI boosted their price target on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.55.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.