Viper Energy, Inc. (NASDAQ:VNOM) Announces Dividend of $0.65

Viper Energy, Inc. (NASDAQ:VNOM) announced a dividend on Tuesday, February 4th,NASDAQ Dividends reports. Investors of record on Thursday, March 6th will be given a dividend of 0.65 per share by the oil and gas producer on Thursday, March 13th. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Viper Energy’s previous dividend of $0.22.

Viper Energy has increased its dividend payment by an average of 2.7% annually over the last three years. Viper Energy has a dividend payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Viper Energy to earn $1.93 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 62.2%.

Viper Energy Stock Up 1.8 %

Shares of NASDAQ:VNOM traded up $0.85 during mid-day trading on Tuesday, reaching $48.70. 3,919,419 shares of the stock were exchanged, compared to its average volume of 1,981,642. Viper Energy has a one year low of $30.56 and a one year high of $56.76. The company has a market cap of $9.18 billion, a P/E ratio of 20.90 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $50.04 and its 200-day simple moving average is $48.78.

Viper Energy (NASDAQ:VNOM) 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 the consensus estimate of $0.47 by $0.02. The business had revenue of $209.59 million for 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 firm’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. As a group, equities research analysts predict that Viper Energy will post 2.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America started coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target for the company. Roth Mkm lifted their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Friday, December 13th. Barclays increased their price objective on Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Evercore ISI upped their target price on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Viper Energy currently 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.