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Viper Energy: 3Q Earnings Snapshot

·1 min read

MIDLAND, Texas (AP) _ Viper Energy Partners LP (VNOM) on Monday reported a third-quarter loss of $764,000, after reporting a profit in the same period a year earlier.

The Midland, Texas-based company said it had a loss of 1 cent per share. Earnings, adjusted for non-recurring costs, came to less than 1 cent on a per-share basis.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The oil and gas company posted revenue of $62.9 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $50.8 million.

Viper Energy shares have dropped 71% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.22, a fall of 70% in the last 12 months.

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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