Viper Energy: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Tuesday reported second-quarter profit of $2.3 million.
On a per-share basis, the Midland, Texas-based company said it had net income of 4 cents.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The oil and gas company posted revenue of $72.2 million in the period, exceeding Street forecasts. Nine analysts surveyed by Zacks expected $71.4 million.
Viper Energy shares have risen 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.25, a decrease of roughly 7% in the last 12 months.