Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results

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

Viper Energy Trading Down 2.1 %

Shares of VNOM stock traded down $1.02 during trading hours on Monday, hitting $47.31. 2,112,126 shares of the company’s stock traded hands, compared to its average volume of 1,832,514. The stock has a market cap of $10.08 billion, a PE ratio of 20.30 and a beta of 1.71. The stock’s 50 day simple moving average is $49.30 and its 200 day simple moving average is $49.54. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a 12 month low of $34.45 and a 12 month high of $56.76.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio (DPR) is currently 51.50%.

Wall Street Analysts Forecast Growth

VNOM has been the subject of several research reports. Bank of America assumed coverage on Viper Energy in a report on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Raymond James reissued an “outperform” rating and set a $58.00 price target (down from $64.00) on shares of Viper Energy in a report on Tuesday, February 4th. JPMorgan Chase & Co. raised their price objective on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Evercore ISI upped their target price on Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, Truist Financial decreased their target price on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price 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.