Zacks Research Decreases Earnings Estimates for Viper Energy

Viper Energy, Inc. (NASDAQ:VNOM) – Stock analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Viper Energy in a research report issued on Tuesday, January 7th. Zacks Research analyst R. Department now expects that the oil and gas producer will earn $1.94 per share for the year, down from their prior forecast of $1.95. The consensus estimate for Viper Energy’s current full-year earnings is $2.01 per share.

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

A number of other research analysts have also recently weighed in on VNOM. Evercore ISI lifted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler reduced their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Barclays increased their price target on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted 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. Finally, KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.36.

Viper Energy Stock Down 1.1 %

Shares of NASDAQ:VNOM opened at $49.65 on Friday. The stock has a 50-day simple moving average of $51.52 and a 200-day simple moving average of $47.58. The stock has a market capitalization of $9.35 billion, a P/E ratio of 21.31 and a beta of 1.73. Viper Energy has a 1 year low of $30.21 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is currently 51.50%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Viper Energy by 78.2% during the 3rd quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after acquiring an additional 1,682,183 shares in the last quarter. Yaupon Capital Management LP bought a new stake in Viper Energy during the third quarter valued at $18,044,000. Retirement Systems of Alabama acquired a new stake in shares of Viper Energy during the third quarter worth $12,980,000. Zimmer Partners LP lifted its position in shares of Viper Energy by 344.0% in the 3rd quarter. Zimmer Partners LP now owns 325,000 shares of the oil and gas producer’s stock worth $14,661,000 after buying an additional 251,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Viper Energy by 16.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock worth $76,647,000 after buying an additional 234,048 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Company Profile

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.