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

Viper Energy, Inc. (NASDAQ:VNOM) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 6,200,000 shares, a decline of 14.8% from the February 13th total of 7,280,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analyst Weigh In

VNOM has been the subject of several research analyst reports. The Goldman Sachs Group set a $72.00 price target on Viper Energy in a research note on Monday, March 3rd. Raymond James reaffirmed an “outperform” rating and set 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 dropped their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company initiated coverage on Viper Energy in a research note on Friday, March 14th. They set an “overweight” rating and a $51.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Viper Energy Trading Up 0.1 %

VNOM opened at $43.79 on Wednesday. The business has a 50 day simple moving average of $47.44 and a two-hundred day simple moving average of $49.13. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 18.79 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy has a one year low of $35.46 and a one year high of $56.76.

Viper Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $0.65 per share. This is a positive change 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 is presently 32.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in Viper Energy during the 4th quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Viper Energy during the 4th quarter worth approximately $32,000. Assetmark Inc. grew 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 worth $33,000 after acquiring an additional 518 shares during the period. First Horizon Advisors Inc. grew 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 worth $34,000 after acquiring an additional 214 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Viper Energy during the 4th quarter worth approximately $55,000. Institutional investors own 87.72% of the company’s stock.

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.