MIDLAND, Texas (AP) — Viper Energy Partners LP (VNOM) on Tuesday reported fourth-quarter net income of $2.3 million, after reporting a loss in the same period a year earlier.
The Midland, Texas-based company said it had net income of 3 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The oil and gas company posted revenue of $92.7 million in the period, topping Street forecasts. Nine analysts surveyed by Zacks expected $89.2 million.
For the year, the company reported profit of $46.3 million, or 75 cents per share. Revenue was reported as $298.3 million.
Viper Energy shares have decreased 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.44, a fall of 34% in the last 12 months.