Viper Energy, Inc. (NASDAQ:VNOM) Sees Significant Decrease in Short Interest

Viper Energy, Inc. (NASDAQ:VNOM) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 6,200,000 shares, a decrease of 14.8% from the February 13th total of 7,280,000 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is currently 3.9 days.

Institutional Trading of Viper Energy

Several institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new position in shares of Viper Energy during the 4th quarter valued at $25,000. Quarry LP bought a new position in shares of Viper Energy during the 4th quarter valued at $32,000. Assetmark Inc. lifted its holdings in shares of Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 518 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Viper Energy during the 4th quarter valued at $55,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Shares of VNOM opened at $43.79 on Wednesday. The business’s fifty day simple moving average is $47.44 and its two-hundred day simple moving average is $49.13. 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 12 month low of $35.46 and a 12 month high of $56.76. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 18.79 and a beta of 1.69.

Viper Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.65 per share. This is an increase from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 6th. Viper Energy’s dividend payout ratio (DPR) is currently 32.70%.

Analysts Set New Price Targets

A number of research analysts have weighed in on VNOM shares. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a report on Monday, March 3rd. Raymond James restated an “outperform” rating and issued a $58.00 price target (down previously from $64.00) on shares of Viper Energy in a research note on Tuesday, February 4th. Piper Sandler cut their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI upped their price target on Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price target on Viper Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

About Viper Energy

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.