Viper Energy, Inc. Plans Quarterly Dividend of $0.30 (NASDAQ:VNOM)

Viper Energy, Inc. (NASDAQ:VNOM - Get Free Report) announced a quarterly dividend on Wednesday, November 6th, Zacks 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 yield of 2.17%. The ex-dividend date of this dividend is Thursday, November 14th.

Viper Energy has increased its dividend payment by an average of 15.2% annually over the last three years. Viper Energy has a payout ratio of 64.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Viper Energy to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 58.9%.

Viper Energy Stock Performance

Shares of Viper Energy stock traded up $2.79 during midday trading on Wednesday, hitting $55.42. The company had a trading volume of 1,251,041 shares, compared to its average volume of 1,094,213. The company has a fifty day simple moving average of $48.56 and a 200 day simple moving average of $43.04. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 23.84 and a beta of 1.72. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy has a 12-month low of $27.61 and a 12-month high of $56.08.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million during the quarter, compared to analysts' expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. The business's quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. As a group, analysts predict that Viper Energy will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on VNOM shares. TD Securities boosted their price target on Viper Energy from $46.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Truist Financial lifted their target price on Viper Energy from $57.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an "overweight" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Viper Energy has a consensus rating of "Moderate Buy" and an average target price of $51.25.

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.