Viper Energy Partners LP (VNOM) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Viper Energy Partners LP (NASDAQ:VNOM) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02, Briefing.com reports. The business had revenue of $42.21 million during the quarter, compared to analyst estimates of $40.88 million. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The company’s quarterly revenue was up 111.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share.
Shares of Viper Energy Partners (NASDAQ VNOM) traded up 1.27% during trading on Tuesday, reaching $18.39. 130,549 shares of the company were exchanged. The stock has a market capitalization of $2.09 billion, a P/E ratio of 24.33 and a beta of 0.99. The stock has a 50-day moving average of $18.29 and a 200 day moving average of $17.24. Viper Energy Partners has a 52-week low of $13.53 and a 52-week high of $19.83.
In related news, Director Michael L. Hollis acquired 2,500 shares of the business’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $16.07 per share, with a total value of $40,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several equities analysts have recently commented on VNOM shares. Mizuho upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 23rd. Barclays PLC set a $20.00 price target on shares of Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Stifel Nicolaus set a $20.00 price target on shares of Viper Energy Partners and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, UBS AG started coverage on shares of Viper Energy Partners in a research report on Monday, October 2nd. They set a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $21.18.
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About Viper Energy Partners
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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