MIDLAND, Texas — Viper Energy Partners LP (VNOM) on Monday reported a loss of $3 million in its first quarter.
The Midland, Texas-based company said it had a loss of 5 cents per share. Losses, adjusted for non-recurring gains, came to 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The oil and gas company posted revenue of $97 million in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $83.5 million.
Viper Energy shares have increased 58% since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.31, more than doubling 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