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Viper Energy: 1Q Earnings Snapshot

MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Tuesday reported first-quarter profit of $33.8 million.

On a per-share basis, the Midland, Texas-based company said it had net income of 61 cents. Losses, adjusted for pretax gains, were 1 cent per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The oil and gas company posted revenue of $61.6 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $68 million.

Viper Energy shares have risen 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.66, a climb of 17% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VNOM at https://www.zacks.com/ap/VNOM