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

Viper Energy, Inc. (NASDAQ:VNOM) announced a quarterly dividend on Monday, August 5th, Zacks reports. Stockholders of record on Thursday, August 15th will be given 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 2.74%. The ex-dividend date is Thursday, August 15th.

Viper Energy has raised its dividend payment by an average of 15.2% per year over the last three years. Viper Energy has a dividend payout ratio of 50.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Viper Energy to earn $1.92 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 56.3%.

Viper Energy Stock Performance

VNOM traded up $0.75 during trading on Wednesday, reaching $43.83. The company’s stock had a trading volume of 114,074 shares, compared to its average volume of 950,041. The company’s fifty day moving average price is $39.12 and its 200-day moving average price is $37.37. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 16.28 and a beta of 1.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.46 and a current ratio of 3.46. Viper Energy has a 52-week low of $26.71 and a 52-week high of $44.42.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. The business had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a return on equity of 8.10% and a net margin of 24.24%. The company’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. On average, equities analysts forecast that Viper Energy will post 1.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial lifted their price objective on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Securities lifted their price objective on Viper Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price objective on Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Evercore ISI lifted their price objective on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Barclays lifted their price objective on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

Viper Energy Company Profile

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.