Viper Energy, Inc. (NASDAQ:VNOM) to Issue $0.30 Quarterly Dividend

Viper Energy, Inc. (NASDAQ:VNOM) announced a quarterly dividend on Monday, August 5th, Zacks reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.30 per share by the oil and gas producer on Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, August 15th.

Viper Energy has increased its dividend by an average of 15.2% per year over the last three years. Viper Energy has a payout ratio of 50.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Viper Energy to earn $1.95 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 55.4%.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $46.72 on Tuesday. The company has a 50 day moving average of $39.72 and a 200 day moving average of $37.78. 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 stock has a market cap of $8.26 billion, a P/E ratio of 17.20 and a beta of 1.74. Viper Energy has a 12 month low of $26.71 and a 12 month high of $46.91.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. As a group, sell-side analysts forecast that Viper Energy will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

VNOM has been the topic of a number of research analyst reports. Barclays upped their target price on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI upped their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Piper Sandler raised their target price on shares of Viper Energy from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Truist Financial boosted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, TD Securities raised their price objective on shares of Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average price target of $43.86.

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.