Viper Energy, Inc. Announces Quarterly Dividend of $0.30 (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM) declared a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Thursday, November 14th will be paid a dividend of 0.30 per share by the oil and gas producer on Thursday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, November 14th.

Viper Energy has increased its dividend payment by an average of 15.2% per year over the last three years. Viper Energy has a dividend payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Viper Energy to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 58.9%.

Viper Energy Price Performance

Shares of VNOM traded up $3.09 during trading hours on Wednesday, reaching $55.72. The company had a trading volume of 354,833 shares, compared to its average volume of 1,090,277. The firm has a 50 day simple moving average of $48.56 and a 200-day simple moving average of $43.04. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 23.84 and a beta of 1.72. Viper Energy has a 12-month low of $27.61 and a 12-month high of $56.04.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. The company had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. Research analysts expect that Viper Energy will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on VNOM. TD Securities raised their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Financial lifted their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Roth Mkm boosted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $51.25.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.