KeyCorp Has Pessimistic View of Viper Energy FY2024 Earnings

Viper Energy, Inc. (NASDAQ:VNOM - Free Report) - Equities researchers at KeyCorp lowered their FY2024 EPS estimates for Viper Energy in a research note issued to investors on Thursday, December 12th. KeyCorp analyst T. Rezvan now forecasts that the oil and gas producer will post earnings per share of $2.18 for the year, down from their previous estimate of $2.26. KeyCorp currently has a "Overweight" rating and a $62.00 target price on the stock. The consensus estimate for Viper Energy's current full-year earnings is $2.01 per share. KeyCorp also issued estimates for Viper Energy's Q4 2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.62 EPS, FY2025 earnings at $2.39 EPS, Q1 2026 earnings at $0.61 EPS, Q2 2026 earnings at $0.59 EPS, Q3 2026 earnings at $0.60 EPS and FY2026 earnings at $2.43 EPS.

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

A number of other analysts have also weighed in on VNOM. The Goldman Sachs Group started coverage on shares of Viper Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $70.00 target price on the stock. StockNews.com cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. Barclays raised their price target on shares of Viper Energy from $52.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Bank of America started coverage on Viper Energy in a report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Viper Energy from $43.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.27.

Viper Energy Price Performance

Shares of VNOM stock traded down $0.03 on Monday, reaching $51.16. The company had a trading volume of 799,630 shares, compared to its average volume of 1,062,008. The stock has a market capitalization of $9.64 billion, a PE ratio of 21.97 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The business's 50-day moving average is $52.46 and its 200 day moving average is $46.00. Viper Energy has a one year low of $30.21 and a one year high of $56.76.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.35%. Viper Energy's dividend payout ratio is presently 51.50%.

Hedge Funds Weigh In On Viper Energy

A number of large investors have recently modified their holdings of VNOM. Farther Finance Advisors LLC raised its holdings 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 worth $26,000 after buying an additional 450 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 460 shares during the last quarter. International Assets Investment Management LLC bought a new position in Viper Energy in the 2nd quarter valued at about $36,000. National Bank of Canada FI boosted its stake in Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer's stock valued at $63,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in 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 in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Company Profile

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.