Viper Energy: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Wednesday reported second-quarter net income of $99.4 million.
On a per-share basis, the Midland, Texas-based company said it had profit of $1.35. Earnings, adjusted for pretax gains and non-recurring gains, were 31 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The oil and gas company posted revenue of $75.4 million in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $68.7 million.
Viper Energy shares have climbed 54 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.94, more than doubling in the last 12 months.