Viper Energy, Inc. (NASDAQ:VNOM) to Issue Dividend Increase - $0.65 Per Share

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) announced a dividend on Friday, February 7th,NASDAQ Dividends reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.65 per share by the oil and gas producer on Thursday, March 13th. The ex-dividend date is Thursday, March 6th. This is an increase from Viper Energy's previous dividend of $0.22.

Viper Energy has increased its dividend by an average of 2.7% per year over the last three years. Viper Energy has a payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Viper Energy to earn $1.89 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 63.5%.

Viper Energy Price Performance

Viper Energy stock traded down $0.33 during mid-day trading on Friday, reaching $49.38. The company had a trading volume of 1,063,178 shares, compared to its average volume of 2,222,354. The business has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $48.88. The company has a market cap of $10.52 billion, a P/E ratio of 21.19 and a beta of 1.71. Viper Energy has a fifty-two week low of $31.51 and a fifty-two week high of $56.76. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America initiated coverage on Viper Energy in a research report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 target price for the company. Raymond James reiterated an "outperform" rating and set a $58.00 target price (down from $64.00) on shares of Viper Energy in a research report on Tuesday. StockNews.com cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. Truist Financial cut their price target on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Viper Energy from $43.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.