Zacks Research Weighs in on Viper Energy, Inc.’s FY2024 Earnings (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM) – Analysts at Zacks Research upped their FY2024 earnings estimates for shares of Viper Energy in a note issued to investors on Monday, August 26th. Zacks Research analyst R. Department now expects that the oil and gas producer will earn $1.88 per share for the year, up from their previous estimate of $1.80. The consensus estimate for Viper Energy’s current full-year earnings is $2.08 per share. Zacks Research also issued estimates for Viper Energy’s Q4 2024 earnings at $0.38 EPS and Q3 2025 earnings at $0.45 EPS.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 25.63% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share.

A number of other research firms also recently weighed in on VNOM. Piper Sandler raised their price target on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. TD Securities raised their price objective on shares of Viper Energy from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays boosted their target price on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI lifted their price target on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Truist Financial boosted their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.71.

Viper Energy Stock Up 0.6 %

Shares of NASDAQ:VNOM opened at $48.26 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. The company has a market cap of $8.53 billion, a PE ratio of 17.74 and a beta of 1.74. Viper Energy has a 52 week low of $26.73 and a 52 week high of $48.72. The firm has a 50 day simple moving average of $42.45 and a 200 day simple moving average of $39.12.

Institutional Investors Weigh In On Viper Energy

A number of institutional investors and hedge funds have recently bought and sold shares of VNOM. Vanguard Group Inc. increased its stake in shares of Viper Energy by 1,045.4% in the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after buying an additional 6,277,324 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Viper Energy by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock valued at $423,344,000 after buying an additional 2,246,219 shares in the last quarter. Scout Investments Inc. bought a new stake in shares of Viper Energy during the 4th quarter valued at $40,808,000. Epoch Investment Partners Inc. boosted its holdings in shares of Viper Energy by 91.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock valued at $78,616,000 after buying an additional 1,197,567 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Viper Energy by 16.8% during the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock valued at $246,566,000 after buying an additional 923,276 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio (DPR) is presently 44.12%.

About Viper Energy

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.