Capital One Financial Equities Analysts Decrease Earnings Estimates for Viper Energy, Inc. (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM) – Equities researchers at Capital One Financial reduced their Q3 2024 earnings estimates for Viper Energy in a research report issued on Tuesday, September 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings of $0.48 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for Viper Energy’s current full-year earnings is $2.03 per share. Capital One Financial also issued estimates for Viper Energy’s FY2024 earnings at $2.12 EPS.

A number of other research analysts have also issued reports on VNOM. Barclays increased their target price on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Truist Financial increased their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. TD Securities boosted their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Evercore ISI upped their price target on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Piper Sandler lifted their price objective on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.17.

Viper Energy Stock Performance

Shares of VNOM stock opened at $44.86 on Thursday. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy has a 12-month low of $26.73 and a 12-month high of $49.37. The business’s 50 day moving average is $45.09 and its two-hundred day moving average is $40.54. The company has a market capitalization of $7.93 billion, a P/E ratio of 16.39 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio (DPR) is 44.12%.

Hedge Funds Weigh In On Viper Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Viper Energy during the 2nd quarter valued at about $36,000. Plato Investment Management Ltd boosted its holdings in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the last quarter. ORG Partners LLC grew its position in shares of Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 2,550 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Viper Energy by 94.4% in the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Sandia Investment Management LP acquired a new stake in shares of Viper Energy in the first quarter valued at approximately $192,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

About Viper Energy

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.