Viper Energy (NASDAQ:VNOM) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Viper Energy (NASDAQ:VNOM) posted its earnings results on Monday. The oil and gas producer reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01, Zacks reports. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%.

Viper Energy Stock Performance

Viper Energy stock traded down $1.02 during trading on Monday, reaching $47.31. The company had a trading volume of 2,112,126 shares, compared to its average volume of 1,832,473. Viper Energy has a 52 week low of $34.45 and a 52 week high of $56.76. The firm’s 50-day simple moving average is $49.30 and its 200 day simple moving average is $49.54. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 20.30 and a beta of 1.71. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $0.65 dividend. This is a boost from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is currently 51.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Barclays upped their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. Finally, Piper Sandler cut their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and an average price target of $59.55.

About Viper Energy

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.