Analysts on Wall Street project that Viper Energy Partners (VNOM) will announce quarterly earnings of $0.27 per share in its forthcoming report, representing a decline of 35.7% year over year. Revenues are projected to reach $426.49 million, increasing 86.5% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 5.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Viper Energy metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Natural Gas Income' will reach $23.50 million. The estimate indicates a year-over-year change of +288.5%.
Analysts predict that the 'Natural Gas Liquids Income' will reach $47.99 million. The estimate points to a change of +79.3% from the year-ago quarter.
Analysts forecast 'Oil income' to reach $359.92 million. The estimate indicates a year-over-year change of +87.4%.
Analysts' assessment points toward 'Lease bonus income' reaching $10.06 million. The estimate indicates a year-over-year change of +175.2%.
The consensus among analysts is that 'Average daily combined volumes' will reach 126597 barrels of oil equivalent per day. The estimate compares to the year-ago value of 56109 barrels of oil equivalent per day.
Analysts expect 'Average sales prices - Natural gas liquids' to come in at $17.26 . The estimate is in contrast to the year-ago figure of $22.15 .
Based on the collective assessment of analysts, 'Total Production' should arrive at 11671 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 5162 thousands of barrels of oil equivalent.
The collective assessment of analysts points to an estimated 'Production - NGL' of 2763 thousands of barrels of oil. Compared to the present estimate, the company reported 1209 thousands of barrels of oil in the same quarter last year.
The average prediction of analysts places 'Production - Natural Gas' at $17048.17 millions of cubic feet. The estimate is in contrast to the year-ago figure of $7236.00 millions of cubic feet.
The consensus estimate for 'Production - Crude Oil' stands at 6067 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 2747 thousands of barrels of oil.
According to the collective judgment of analysts, 'Average sales prices - Oil, hedged' should come in at $58.59 . Compared to the current estimate, the company reported $69.00 in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average sales prices - Crude Oil' will likely reach $58.46 . The estimate is in contrast to the year-ago figure of $69.91 .
View all Key Company Metrics for Viper Energy here>>>
Over the past month, Viper Energy shares have recorded returns of +18% versus the Zacks S&P 500 composite's -1.3% change. Based on its Zacks Rank #4 (Sell), VNOM will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Viper Energy Inc. (VNOM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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