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

Viper Energy, Inc. (NASDAQ:VNOM) announced a dividend on Monday, March 3rd, NASDAQ Dividends reports. Shareholders 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 a boost from Viper Energy’s previous dividend of $0.22.

Viper Energy has raised its dividend payment by an average of 1.2% annually over the last three years. Viper Energy has a dividend payout ratio of 54.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Viper Energy to earn $1.90 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 63.2%.

Viper Energy Stock Down 2.6 %

Viper Energy stock opened at $45.36 on Tuesday. The firm has a market capitalization of $9.66 billion, a P/E ratio of 19.47 and a beta of 1.71. The stock’s fifty day simple moving average is $48.93 and its 200-day simple moving average is $49.51. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy has a twelve month low of $34.45 and a twelve month high of $56.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VNOM. StockNews.com upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Piper Sandler decreased their target price on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Bank of America started coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They set a “buy” rating and a $64.00 target price on the stock. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 target price on the stock in a research report on Friday, December 13th. Finally, Evercore ISI raised their target price on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and an average 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.