Brokers Set Expectations for Viper Energy FY2024 Earnings

Viper Energy, Inc. (NASDAQ:VNOM) – Equities researchers at Zacks Research reduced their FY2024 EPS estimates for shares of Viper Energy in a research note issued on Tuesday, January 7th. Zacks Research analyst R. Department now forecasts 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.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Evercore ISI increased their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler decreased their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Raymond James boosted their price target on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Bank of America started coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.36.

Viper Energy Stock Performance

Shares of VNOM opened at $49.65 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm’s 50 day moving average is $51.52 and its 200-day moving average is $47.58. Viper Energy has a 12-month low of $30.21 and a 12-month high of $56.76. 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 (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business’s revenue was down 28.5% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.42%. Viper Energy’s payout ratio is presently 51.50%.

Institutional Trading of Viper Energy

A number of hedge funds have recently made changes to their positions in VNOM. FMR LLC increased its position in Viper Energy by 4,836.9% during the 3rd quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock worth $3,365,000 after buying an additional 73,085 shares during the period. New York State Teachers Retirement System acquired a new stake in Viper Energy in the 3rd quarter worth about $984,000. Geode Capital Management LLC boosted its holdings in 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 valued at $76,647,000 after purchasing an additional 234,048 shares during the period. Amalgamated Bank bought a new position in shares of Viper Energy during the second quarter worth approximately $616,000. Finally, Summit Global Investments bought a new position in shares of Viper Energy during the third quarter worth approximately $706,000. 87.72% of the stock is owned by institutional investors and hedge funds.

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.