Analyst Consensus ?
ConsensusBuy40 ratings
Bullish3587.5%
Neutral512.5%
Bearish00.0%
Viper Energy, Inc. · VNOM · FY2026 Q2 · Calendar Q3 2026
Viper Energy maintains growth outlook as dividend framework shifts
Management’s account of strong organic production growth and a flexible cash-return framework supports a constructive operating thesis for Viper Energy. The durability of that case depends on commodity conditions, operator activity and disciplined capital allocation.
Reported After market closeNASDAQEnergy
$15.87B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.76
Consensus $0.76
EPS surprise
-0.5%
Reported versus consensus
Reported revenue
$677.0M
Consensus $643.5M
Revenue surprise
+5.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-3.1%
Event window
SPY move
+1.8%
Same window
Abnormal move
-4.9%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
+7.2%
Up to 20 sessions
VNOMSPY benchmark
Ask FN2 about VNOM FY2026 Q2
Transcript, numbers and history already loaded
Why did VNOM fall 3.1% after missing EPS estimates in FY2026 Q2?What changed in VNOM's guidance and outlook in FY2026 Q2?Give me the bull and bear case for VNOM after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management described moving from a variable dividend model to a $2-per-share base dividend and removing the 75% cash-payout rule, while retaining flexibility to use excess cash for buybacks, debt reduction or acquisitions. The supplied analysis says guidance was maintained.
Guidance delta
Maintained; the supplied transcript analysis reports no change to guidance.
Key takeaways
- Management characterized production growth as strong, citing high-single-digit organic growth in 2026 and a 15% annualized growth trajectory.
- The higher base dividend is intended to provide a stable cash return while leaving excess cash available for other uses.
- Share repurchases and mineral-asset acquisitions remain part of the capital-allocation toolkit.
- New leasing activity in the Woodford and Delaware basins was highlighted as a potential source of future production upside.
Management priorities
- Grow the base dividend and allocate excess cash among buybacks, debt reduction and acquisitions.
- Pursue high-return mineral-asset M&A opportunities.
- Expand leasing and bonus activity in the Woodford and Delaware basins.
- Sustain organic growth through Diamondback and other third-party operators.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$44.17Current
$37Low
$55.2Average
$72High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 15, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 14, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 9, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 17, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Aug 4, 2026 |
| Raymond James | Outperform | Outperform | Maintain | May 26, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 15, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Apr 2, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Mar 12, 2026 |
| TD Securities | Buy | Buy | Maintain | Sep 30, 2025 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jun 4, 2025 |
| B of A Securities | Buy | Buy | Maintain | May 23, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | May 7, 2025 |
| Stifel | Buy | Buy | Maintain | Sep 6, 2023 |
| MKM Partners | Buy | Buy | Maintain | Jul 20, 2022 |
| ScotiaBank | Sector Outperform | Sector Outperform | Maintain | Oct 14, 2020 |
| Seaport Global | Neutral | Neutral | Maintain | Jul 27, 2020 |
| Imperial Capital | Outperform | Outperform | Maintain | Jul 15, 2020 |
| UBS | Buy | Buy | Maintain | Jun 28, 2020 |
| Credit Suisse | Outperform | Outperform | Maintain | Mar 19, 2020 |
| Goldman Sachs | Buy | Buy | Maintain | Sep 25, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 1, 2019 |
| Capital One Financial | Overweight | Overweight | Maintain | Jul 2, 2019 |
| Stephens & Co. | Overweight | Overweight | Maintain | Apr 12, 2019 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 3, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Feb 2, 2018 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Nov 29, 2017 |
| PiperJaffray | Overweight | Overweight | Maintain | Sep 18, 2017 |
| Mizuho Securities | Neutral | Neutral | Maintain | Oct 6, 2016 |
| Euro Pacific Capital | Buy | Buy | Maintain | Sep 17, 2015 |
| Northland Securities | Outperform | Market Perform | Upgrade | Oct 17, 2014 |
| Northland Capital Markets | Outperform | Market Perform | Upgrade | Oct 16, 2014 |
| Baird | Outperform | Neutral | Upgrade | Oct 15, 2014 |
| Wunderlich | Buy | Buy | Maintain | Oct 3, 2014 |
| Wunderlich Securities | Buy | Buy | Maintain | Oct 2, 2014 |
| GMP Securities | Hold | Hold | Maintain | Sep 9, 2014 |
| Tudor Pickering | Buy | Accumulate | Maintain | Sep 3, 2014 |
| Sterne Agee | Neutral | Neutral | Maintain | Jul 14, 2014 |
| Scotia Howard Weil | Perform | Sector Perform | Maintain | Jul 14, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $44.17. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Oppenheimer | Analyst unavailable | $53 | $45.72 | +20.0% | Nov 3, 2026 |
| Morgan Stanley | Analyst unavailable | $47 | $43.52 | +6.4% | Oct 15, 2026 |
| Scotiabank | Mark Lear | $54 | $44.13 | +22.3% | Oct 14, 2026 |
| Truist Financial | Gabe Daoud | $53 | $44.36 | +20.0% | Oct 14, 2026 |
| Mizuho Securities | Analyst unavailable | $57 | $43.37 | +29.0% | Oct 13, 2026 |
| RBC Capital | Scott Hanold | $57 | $43.26 | +29.0% | Oct 9, 2026 |
| Seaport Global | Analyst unavailable | $45 | $45.12 | +1.9% | Sep 3, 2026 |
| Mizuho Securities | William Janela | $56 | $42.68 | +26.8% | Aug 4, 2026 |
| Raymond James | Analyst unavailable | $57 | $43.76 | +29.0% | Jul 31, 2026 |
| Roth Capital | Analyst unavailable | $52 | $43.03 | +17.7% | Jul 15, 2026 |
| Morgan Stanley | Devin McDermott | $46 | $42.57 | +4.1% | Jun 29, 2026 |
| RBC Capital | Scott Hanold | $58 | $45 | +31.3% | May 29, 2026 |
| Mizuho Securities | William Janela | $58 | $45.59 | +31.3% | May 27, 2026 |
| Raymond James | John Freeman | $61 | $46.89 | +38.1% | May 26, 2026 |
| Wells Fargo | Analyst unavailable | $61 | $47.68 | +38.1% | May 15, 2026 |
| Truist Financial | Analyst unavailable | $58 | $48.4 | +31.3% | May 6, 2026 |
| Roth Capital | Analyst unavailable | $54 | $50.06 | +22.3% | May 5, 2026 |
| Barclays | Analyst unavailable | $58 | $50.95 | +31.3% | May 5, 2026 |
| Wells Fargo | Analyst unavailable | $60 | $45.4 | +35.8% | Apr 20, 2026 |
| Morgan Stanley | Analyst unavailable | $49 | $47.85 | +10.9% | Mar 27, 2026 |
| TD Securities | Aaron Bilkoski | $55 | $44.96 | +24.5% | Feb 24, 2026 |
| Mizuho Securities | Analyst unavailable | $53 | $44.96 | +20.0% | Feb 24, 2026 |
| Morgan Stanley | Devin McDermott | $44 | $39.75 | -0.4% | Jan 23, 2026 |
| Barclays | Betty Jiang | $54 | $38.75 | +22.3% | Jan 21, 2026 |
| Mizuho Securities | Analyst unavailable | $52 | $40.67 | +17.7% | Dec 12, 2025 |
| Barclays | Betty Jiang | $60 | $36.7 | +35.8% | Nov 5, 2025 |
| Morgan Stanley | Analyst unavailable | $45 | $36.7 | +1.9% | Oct 14, 2025 |
| Barclays | Analyst unavailable | $57 | $38.9 | +29.0% | Oct 7, 2025 |
| TD Securities | Aaron Bilkoski | $54 | $38.21 | +22.3% | Sep 30, 2025 |
| Mizuho Securities | Analyst unavailable | $51 | $38.57 | +15.5% | Sep 15, 2025 |
| Roth Capital | Leo Mariani | $50 | $38.97 | +13.2% | Aug 26, 2025 |
| Piper Sandler | Mark Lear | $68 | $37.89 | +54.0% | Aug 14, 2025 |
| Evercore ISI | Stephen Richardson | $49 | $39.97 | +10.9% | May 6, 2025 |
| Raymond James | Analyst unavailable | $52 | $39.56 | +17.7% | Apr 21, 2025 |
| KeyBanc | Tim Rezvan | $56 | $39.56 | +26.8% | Apr 21, 2025 |
| Goldman Sachs | Analyst unavailable | $72 | $45.36 | +63.0% | Mar 3, 2025 |
| Raymond James | John Freeman | $58 | $48.7 | +31.3% | Feb 4, 2025 |
| Goldman Sachs | Neil Mehta | $70 | $54.11 | +58.5% | Dec 2, 2024 |
| Roth Capital | Leo Mariani | $53 | $50.29 | +20.0% | Oct 16, 2024 |
| Piper Sandler | Mark Lear | $61 | $51.97 | +38.1% | Oct 15, 2024 |
| Evercore ISI | Stephen Richardson | $45 | $43.35 | +1.9% | Sep 13, 2024 |
| Piper Sandler | Mark Lear | $57 | $46.83 | +29.0% | Aug 15, 2024 |
| Truist Financial | Nela Dingmann | $54 | $42.83 | +22.3% | Jul 22, 2024 |
| Barclays | Betty Jiang | $44 | $40.14 | -0.4% | Apr 9, 2024 |
| Piper Sandler | Mark Lear | $36 | $35.18 | -18.5% | Mar 11, 2024 |
| Loop Capital Markets | Tim Rezvan | $37 | $27.2 | -16.2% | May 3, 2023 |
| Roth Capital | Leo Mariani | $34 | $28.87 | -23.0% | Apr 20, 2023 |
| Raymond James | Analyst unavailable | $38 | $29.07 | -14.0% | Jul 26, 2022 |
| Raymond James | Analyst unavailable | $41 | $30.76 | -7.2% | May 26, 2022 |
| Wells Fargo | Analyst unavailable | $36 | $28.73 | -18.5% | May 2, 2022 |
| Raymond James | Analyst unavailable | $40 | $28.45 | -9.4% | Apr 25, 2022 |
| Evercore ISI | Stephen Richardson | $24 | $16.89 | -45.7% | Aug 16, 2021 |
| TD Securities | Aaron Bilkoski | $22 | $17.78 | -50.2% | Jun 29, 2021 |
Track every rating change on VNOM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationViper Energy Partners LP is an entity dedicated to the ownership, acquisition, and development of oil and natural gas assets across North America. By the end of 2021, the company had established mineral interests encompassing 27,027 net royalty acres, primarily located within the prolific Permian Basin and Eagle Ford Shale formations. At that time, its proven hydrocarbon reserves were estimated to be 127,888 thousand barrels of crude oil equivalent. Viper Energy Partners GP LLC acts as the general partner responsible for managing the company's operations. Founded in 2013, Viper Energy Partners LP maintains its headquarters in Midland, Texas, and operates as a subsidiary of Diamondback Energy, Inc.
Historical context
All VNOM earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MPLX MPLX Lp | FY2026 Q3 · Calendar Q4 2026 | — | -2.4% | MPLX pairs 5% EBITDA growth with a larger project and divestiture agenda |
| FANG Diamondback Energy, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.4% | -3.7% | FANG Q3: Permian focus, low reinvestment and recovery initiatives |
| MPC Marathon Petroleum Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -0.7% | MPC posts record Q3 utilization and EBITDA, plans Gulf Coast reinvestment |
| WMB The Williams Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.2% | +3.5% | Williams posts record Q3 EBITDA; holds 2026 guidance |
Latest beats and misses
Who reports nextBeat on EPS
- PHGFY2026 Q3 · November 3, 2026+24.3% EPS+3.2% move
- FANGFY2026 Q3 · November 2, 2026+2.4% EPS-3.7% move
- RRXFY2026 Q3 · November 3, 2026+41.1% EPS+11.8% move
- UDRFY2026 Q3 · November 2, 2026+340.8% EPS+0.1% move
- VNOMFY2026 Q3 · November 2, 2026+3.9% EPS-2.6% move
- EQH-PAFY2026 Q3 · November 2, 2026+14.5% EPS— move
Get the VNOM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-04T21:13:51.738299+00:00
- FN2 earnings calendar · 2026-09-08T01:23:13.784197+00:00
- Polygon adjusted daily market bars · 2026-11-04T02:10:46.836015+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T02:10:46.833219+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.