Viper Energy, Inc. (NASDAQ:VNOM) Increases Dividend to $0.65 Per Share

Viper Energy, Inc. (NASDAQ:VNOM) declared a dividend on Tuesday, February 4th,NASDAQ Dividends reports. Stockholders of record on Thursday, March 6th will be paid a dividend of 0.65 per share by the oil and gas producer on Thursday, March 13th. The ex-dividend date is Thursday, March 6th. This is a boost from Viper Energy’s previous dividend of $0.22.

Viper Energy has increased its dividend by an average of 2.7% annually over the last three years. Viper Energy has a payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Viper Energy to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 62.2%.

Viper Energy Price Performance

Shares of Viper Energy stock traded up $0.85 during mid-day trading on Tuesday, reaching $48.70. 3,919,419 shares of the stock traded hands, compared to its average volume of 1,981,642. The business has a 50-day moving average of $50.04 and a 200 day moving average of $48.78. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $9.18 billion, a PE ratio of 20.90 and a beta of 1.71. Viper Energy has a fifty-two week low of $30.56 and a fifty-two week high of $56.76.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, analysts predict that Viper Energy will post 2.02 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on VNOM shares. Piper Sandler decreased their price objective on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday. Truist Financial cut their target price on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday. Barclays lifted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America began coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target on the stock. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.55.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.