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. Investors 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 payment 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. Equities 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 Performance

Shares of VNOM stock traded up $0.17 during trading hours on Wednesday, reaching $48.87. The company had a trading volume of 74,887 shares, compared to its average volume of 1,896,708. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The business has a fifty day moving average price of $50.04 and a 200-day moving average price of $48.78. Viper Energy has a one year low of $31.18 and a one year high of $56.76. The firm has a market cap of $9.21 billion, a PE ratio of 20.94 and a beta of 1.71.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $210.54 million. During the same period in the prior year, the firm earned $1.10 EPS. The company’s revenue was down 28.5% compared to the same quarter last year. Sell-side analysts predict that Viper Energy will post 2.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VNOM. StockNews.com cut Viper Energy from a “hold” rating to a “sell” rating in a research report on Monday. Piper Sandler dropped their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Roth Mkm raised their price objective on Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Raymond James restated an “outperform” rating and issued a $58.00 price objective (down from $64.00) on shares of Viper Energy in a research report on Tuesday. Finally, The Goldman Sachs Group began coverage on Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.55.

Viper Energy Company Profile

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.