Zacks Research Lowers Earnings Estimates for Viper Energy

Viper Energy, Inc. (NASDAQ:VNOM) – Equities researchers at Zacks Research decreased their FY2024 earnings per share estimates for shares of Viper Energy in a research note issued to investors on Tuesday, January 7th. Zacks Research analyst R. Department now forecasts that the oil and gas producer will post earnings per share of $1.94 for the year, down from their prior estimate of $1.95. The consensus estimate for Viper Energy’s current full-year earnings is $2.01 per share.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same period in the prior year, the company earned $1.10 EPS. Viper Energy’s revenue for the quarter was down 28.5% on a year-over-year basis.

Other equities analysts have also recently issued reports about the stock. Roth Mkm upped their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Barclays boosted their price objective on Viper Energy from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group initiated coverage on Viper Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price for the company. Finally, Truist Financial lifted their price target on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.36.

Viper Energy Stock Up 0.3 %

VNOM stock opened at $50.20 on Friday. The firm has a 50-day moving average price of $51.57 and a 200-day moving average price of $47.49. Viper Energy has a 12 month low of $30.21 and a 12 month high of $56.76. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, November 14th. Viper Energy’s dividend payout ratio is presently 51.50%.

Hedge Funds Weigh In On Viper Energy

A number of hedge funds have recently bought and sold shares of VNOM. Farther Finance Advisors LLC boosted its position in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. National Bank of Canada FI grew its stake in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,165 shares during the period. Versant Capital Management Inc bought a new stake in Viper Energy in the fourth quarter worth approximately $94,000. Finally, Plato Investment Management Ltd lifted its stake in Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares during the period. Institutional investors own 87.72% of the company’s stock.

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.