Q2 2024 Earnings Forecast for Viper Energy, Inc. Issued By Roth Capital (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM) – Analysts at Roth Capital lowered their Q2 2024 earnings estimates for Viper Energy in a research note issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now forecasts that the oil and gas producer will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for Viper Energy’s current full-year earnings is $1.74 per share. Roth Capital also issued estimates for Viper Energy’s Q3 2024 earnings at $0.33 EPS.

Several other brokerages have also issued reports on VNOM. Raymond James cut their target price on Viper Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Barclays assumed coverage on shares of Viper Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $44.00 target price on the stock. TD Securities boosted their price target on shares of Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler upped their price target on shares of Viper Energy from $36.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com downgraded Viper Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Viper Energy Price Performance

VNOM opened at $37.62 on Friday. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $6.65 billion, a P/E ratio of 13.83 and a beta of 1.78. The stock has a 50-day moving average price of $37.88 and a 200-day moving average price of $33.34. Viper Energy has a 12-month low of $24.48 and a 12-month high of $41.22.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.20. Viper Energy had a net margin of 24.24% and a return on equity of 8.38%. The company had revenue of $204.70 million during the quarter, compared to analyst estimates of $204.61 million. During the same period in the previous year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year.

Viper Energy Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a $0.59 dividend. This is a boost from Viper Energy’s previous None dividend of $0.56. The ex-dividend date is Tuesday, May 14th. This represents a dividend yield of 2.9%. Viper Energy’s payout ratio is presently 39.71%.

Hedge Funds Weigh In On Viper Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Viper Energy by 1,045.4% during the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after purchasing an additional 6,277,324 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Viper Energy by 20.0% during the fourth quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after buying an additional 2,246,219 shares during the period. Scout Investments Inc. bought a new position in shares of Viper Energy during the fourth quarter valued at approximately $40,808,000. Epoch Investment Partners Inc. lifted its stake in Viper Energy by 91.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after acquiring an additional 1,197,567 shares during the period. Finally, TD Asset Management Inc bought a new stake in Viper Energy in the fourth quarter valued at $24,448,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Company Profile

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.