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 Dividends 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 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, November 14th.

Viper Energy has increased its dividend by an average of 15.2% annually over the last three years. Viper Energy has a payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Viper Energy to earn $1.92 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 62.5%.

Viper Energy Price Performance

Shares of VNOM stock opened at $52.83 on Wednesday. The stock has a 50 day moving average price of $49.10 and a 200 day moving average price of $43.46. Viper Energy has a 52-week low of $28.55 and a 52-week high of $56.08. 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 firm has a market capitalization of $9.34 billion, a P/E ratio of 22.67 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The business’s revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. As a group, sell-side analysts predict that Viper Energy will post 2.07 earnings per share for the current year.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of research reports. Truist Financial raised their target price on shares of Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Securities raised their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Barclays lifted their target price on Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler increased their price target on Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.