Viper Energy Inc. (NASDAQ:VNOM – Get Free Report) declared a special dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.29 per share by the oil and gas producer on Thursday, August 20th. This represents a dividend yield of 266.0%. The ex-dividend date of this dividend is Thursday, August 13th.
Viper Energy has raised its dividend by an average of 0.3%per year over the last three years. Viper Energy has a payout ratio of 84.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Viper Energy to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 69.1%.
Viper Energy Price Performance
Shares of VNOM opened at $42.37 on Tuesday. Viper Energy has a twelve month low of $35.10 and a twelve month high of $51.13. The company has a market capitalization of $15.21 billion, a P/E ratio of 325.95 and a beta of 0.40. The firm has a 50 day moving average of $43.40 and a 200 day moving average of $44.77. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16.
Analysts Set New Price Targets
A number of research analysts recently weighed in on VNOM shares. Raymond James Financial set a $57.00 price objective on shares of Viper Energy in a research report on Friday, July 31st. Mizuho cut their target price on shares of Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday, April 13th. Finally, Barclays increased their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Seventeen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $57.07.
Viper Energy Company Profile
Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.
The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.
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