Q3 2024 EPS Estimates for Viper Energy, Inc. (NASDAQ:VNOM) Decreased by Capital One Financial

Viper Energy, Inc. (NASDAQ:VNOM) – Research analysts at Capital One Financial decreased their Q3 2024 earnings estimates for Viper Energy in a note issued to investors on Tuesday, September 24th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.48 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for Viper Energy’s current full-year earnings is $2.03 per share. Capital One Financial also issued estimates for Viper Energy’s FY2024 earnings at $2.12 EPS.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Viper Energy’s revenue for the quarter was up 34.8% compared to the same quarter last year.

Several other brokerages have also issued reports on VNOM. Evercore ISI upped their target price on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays upped their price objective 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. TD Securities lifted their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Piper Sandler boosted their target price on shares of Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Truist Financial raised their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.17.

Viper Energy Stock Performance

Shares of VNOM opened at $44.86 on Thursday. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7.93 billion, a PE ratio of 16.39 and a beta of 1.73. Viper Energy has a 12 month low of $26.73 and a 12 month high of $49.37. The stock has a fifty day moving average price of $45.09 and a 200-day moving average price of $40.54.

Institutional Trading of Viper Energy

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Viper Energy during the second quarter valued at $36,000. Plato Investment Management Ltd raised its stake in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 2,550 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Viper Energy by 94.4% in the 1st quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after buying an additional 2,019 shares during the period. Finally, Sandia Investment Management LP purchased a new stake in shares of Viper Energy in the first quarter worth about $192,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders 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 2.67%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio 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.