Roth Capital Comments on Viper Energy, Inc.’s Q2 2024 Earnings (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM) – Analysts at Roth Capital cut their Q2 2024 earnings per share (EPS) estimates for shares of Viper Energy in a research note issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.33. The consensus estimate for Viper Energy’s current full-year earnings is $1.74 per share. Roth Capital also issued estimates for Viper Energy’s Q3 2024 earnings at $0.33 EPS.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.20. The business had revenue of $204.70 million for the quarter, compared to analyst estimates of $204.61 million. Viper Energy had a return on equity of 8.38% and a net margin of 24.24%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS.

A number of other research analysts also recently commented on the stock. Piper Sandler increased their target price on shares of Viper Energy from $36.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. StockNews.com lowered Viper Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Raymond James reduced their target price on Viper Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Barclays began coverage on Viper Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $44.00 price target on the stock. Finally, TD Securities lifted their price target on Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $41.29.

Viper Energy Stock Up 1.3 %

VNOM stock opened at $37.62 on Friday. The stock has a market cap of $6.65 billion, a P/E ratio of 13.83 and a beta of 1.78. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.38. Viper Energy has a twelve month low of $24.48 and a twelve month high of $41.22. The company’s 50 day moving average is $37.88 and its two-hundred day moving average is $33.34.

Institutional Trading of Viper Energy

Hedge funds have recently added to or reduced their stakes in the stock. Cannon Global Investment Management LLC acquired a new stake in shares of Viper Energy during the fourth quarter worth $631,000. Vanguard Group Inc. boosted its holdings in shares of Viper Energy by 13.4% in the third quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock valued at $16,741,000 after acquiring an additional 70,815 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Viper Energy by 18.9% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock worth $5,697,000 after acquiring an additional 28,800 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Viper Energy by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,827,514 shares of the oil and gas producer’s stock worth $50,951,000 after purchasing an additional 21,977 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Viper Energy in the third quarter valued at about $1,747,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Viper Energy’s previous None dividend of $0.56. This represents a yield of 2.9%. Viper Energy’s dividend payout ratio is currently 39.71%.

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.