Q3 Earnings Estimate for Viper Energy Issued By Roth Capital

Viper Energy, Inc. (NASDAQ:VNOM - Free Report) - Investment analysts at Roth Capital cut their Q3 2024 earnings per share estimates for shares of Viper Energy in a report issued on Wednesday, October 16th. Roth Capital analyst L. Mariani now forecasts that the oil and gas producer will post earnings of $0.26 per share for the quarter, down from their prior estimate of $0.31. The consensus estimate for Viper Energy's current full-year earnings is $1.98 per share. Roth Capital also issued estimates for Viper Energy's Q4 2024 earnings at $0.27 EPS.

A number of other research analysts have also recently issued reports on VNOM. Barclays increased their target price 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. JPMorgan Chase & Co. raised their price objective on Viper Energy from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. TD Securities boosted their target price on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Truist Financial lowered their target price on Viper Energy from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Evercore ISI lifted their price target on Viper Energy from $37.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.63.

Viper Energy Price Performance

Shares of VNOM traded up $0.55 during trading hours on Thursday, reaching $51.91. The company had a trading volume of 470,732 shares, compared to its average volume of 1,114,450. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 17.78 and a beta of 1.73. Viper Energy has a 12-month low of $27.61 and a 12-month high of $52.32. The firm has a 50 day simple moving average of $47.24 and a 200-day simple moving average of $41.84. 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 (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. The firm had revenue of $216.71 million during 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%. Viper Energy's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy's dividend payout ratio is presently 41.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Viper Energy by 1,045.4% in the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer's stock valued at $215,825,000 after acquiring an additional 6,277,324 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Viper Energy by 139.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 36,100 shares of the oil and gas producer's stock worth $1,133,000 after buying an additional 21,030 shares during the period. True North Advisors LLC acquired a new stake in Viper Energy in the 1st quarter worth about $722,000. Requisite Capital Management LLC grew its holdings in Viper Energy by 2.7% in the 1st quarter. Requisite Capital Management LLC now owns 46,672 shares of the oil and gas producer's stock valued at $1,795,000 after buying an additional 1,228 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Viper Energy during the 1st quarter valued at about $537,000. 87.72% of the stock is currently owned by hedge funds and other 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.