Viper Energy, Inc. (NASDAQ:VNOM) Raises Dividend to $0.59 Per Share

Viper Energy, Inc. (NASDAQ:VNOM) announced a None dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.59 per share by the oil and gas producer on Wednesday, May 22nd. The ex-dividend date is Tuesday, May 14th. This is a positive change from Viper Energy’s previous None dividend of $0.56.

Viper Energy has raised its dividend by an average of 15.2% annually over the last three years. Viper Energy has a dividend payout ratio of 48.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Viper Energy to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 58.1%.

Viper Energy Stock Down 0.1 %

Viper Energy stock traded down $0.03 during mid-day trading on Thursday, reaching $37.10. The stock had a trading volume of 18,290 shares, compared to its average volume of 942,493. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 13.65 and a beta of 1.78. The company has a 50-day moving average price of $37.84 and a two-hundred day moving average price of $33.28. Viper Energy has a one year low of $24.48 and a one year high of $41.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.32 and a quick ratio of 4.32.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.20. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $204.61 million. Viper Energy had a net margin of 24.24% and a return on equity of 8.38%. Viper Energy’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. On average, analysts expect that Viper Energy will post 1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VNOM has been the subject of a number of research analyst reports. Truist Financial raised their target price on shares of Viper Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Friday, April 5th. TD Securities lifted their price objective on shares of Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Viper Energy from $36.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Barclays initiated coverage on shares of Viper Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $44.00 price objective for the company. Finally, Raymond James dropped their price objective on shares of Viper Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.14.

About Viper Energy

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.