Viper Energy (NASDAQ:VNOM) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Viper Energy (NASDAQ:VNOM) announced its quarterly earnings data on Monday. The oil and gas producer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06, Briefing.com reports. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. During the same period in the prior year, the firm posted $1.10 EPS. Viper Energy’s revenue for the quarter was down 28.5% on a year-over-year basis.

Viper Energy Stock Performance

Shares of VNOM opened at $52.94 on Tuesday. The business has a 50-day simple moving average of $48.47 and a two-hundred day simple moving average of $42.94. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy has a 52 week low of $27.61 and a 52 week high of $53.25. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 18.13 and a beta of 1.72.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Mkm boosted their price target on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their price target on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. TD Securities increased their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Evercore ISI lifted their target price 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, JPMorgan Chase & Co. increased their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.00.

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.