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

Viper Energy, Inc. (NASDAQ:VNOM) announced a dividend on Tuesday, February 4th,NASDAQ Dividends reports. Stockholders of record on Thursday, March 6th will be given a dividend of 0.65 per share by the oil and gas producer on Thursday, March 13th. The ex-dividend date of this dividend 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% per year over the last three years. Viper Energy has a payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.3 %

Shares of NASDAQ VNOM traded up $0.17 during midday trading on Wednesday, reaching $48.87. 74,887 shares of the company’s stock traded hands, compared to its average volume of 1,896,708. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 20.94 and a beta of 1.71. Viper Energy has a one year low of $31.18 and a one year high of $56.76. 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’s 50 day simple moving average is $50.04 and its 200-day simple moving average is $48.78.

Viper Energy (NASDAQ:VNOM) last issued 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 firm had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the prior year, the business posted $1.10 EPS. The firm’s quarterly revenue was down 28.5% on a year-over-year basis. On average, analysts predict that Viper Energy will post 2.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on VNOM. Evercore ISI raised their price target on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Truist Financial decreased their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler decreased their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Bank of America started coverage on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.