Viper Energy Partners (VNOM) Issues Quarterly Earnings Results, Misses Estimates By $0.36 EPS

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Viper Energy Partners (NASDAQ:VNOM) announced its earnings results on Monday. The oil and gas producer reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.36), MarketWatch Earnings reports. Viper Energy Partners had a return on equity of 14.66% and a net margin of 88.05%. The business had revenue of $78.60 million for the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 84.8% compared to the same quarter last year.

Shares of VNOM stock traded up $0.30 on Tuesday, hitting $35.19. The company had a trading volume of 980,838 shares, compared to its average volume of 664,175. The stock has a market cap of $4.50 billion, a PE ratio of 32.89 and a beta of 1.01. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt-to-equity ratio of 0.36. Viper Energy Partners has a twelve month low of $18.36 and a twelve month high of $44.00.

In other news, President Hof Matthew Kaes Van’t sold 14,800 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $38.71, for a total value of $572,908.00. Following the completion of the transaction, the president now owns 72,473 shares of the company’s stock, valued at approximately $2,805,429.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.

VNOM has been the topic of several research analyst reports. TD Securities set a $39.00 price target on Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 1st. BidaskClub upgraded Viper Energy Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Citigroup upgraded Viper Energy Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $42.00 in a research note on Monday, August 20th. Stifel Nicolaus upgraded Viper Energy Partners from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $42.00 in a research note on Thursday, August 16th. Finally, Northland Securities set a $45.00 price target on Viper Energy Partners and gave the company a “buy” rating in a research note on Thursday, August 16th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Viper Energy Partners has a consensus rating of “Buy” and a consensus target price of $39.07.

About Viper Energy Partners

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

Further Reading: Terms to Better Understand Call Options

Earnings History for Viper Energy Partners (NASDAQ:VNOM)

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