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

Key Points

• Viper Energy Inc. (NASDAQ: VNOM) experienced a massive increase in short interest, growing by 96,648% in July to 11,900,000 shares.
• The stock's consensus rating is a "Moderate Buy" with a consensus price target of $57.23, influenced by multiple investment firm upgrades.
• Viper Energy recently announced a quarterly dividend of $0.30 per share, yielding 3.3% with a payout ratio of 31.58%.

Viper Energy Inc. (NASDAQ:VNOM - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 11,900,000 shares, anincreaseof96,648.0% from the June 30th total of 12,300 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 8.5 days. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 8.5 days.

Wall Street Analyst Weigh In

Several research firms recently commented on VNOM. Mizuho upped their target price on shares of Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Evercore ISI raised their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. TD Securities raised their price objective on shares of Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Bank of America reduced their price objective on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Finally, Barclays raised their price objective on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Viper Energy has a consensus rating of "Moderate Buy" and a consensus price target of $57.23.

Hedge Funds Weigh In On Viper Energy

A number of institutional investors have recently added to or reduced their stakes in VNOM. Quarry LP acquired a new position in Viper Energy during the fourth quarter worth $32,000. UMB Bank n.a. increased its holdings in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Viper Energy in the first quarter valued at $34,000. AlphaQuest LLC acquired a new position in shares of Viper Energy in the first quarter valued at $41,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Viper Energy by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Down 3.0%

Shares of VNOM stock traded down $1.13 during trading on Friday, reaching $36.53. The company's stock had a trading volume of 1,630,755 shares, compared to its average volume of 1,587,447. The business has a fifty day moving average price of $39.11 and a 200-day moving average price of $42.42. The company has a quick ratio of 8.70, a current ratio of 8.70 and a debt-to-equity ratio of 0.15. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 16.91 and a beta of 0.97. Viper Energy has a one year low of $34.71 and a one year high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The business had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same period in the previous year, the company earned $0.49 earnings per share. Analysts anticipate that Viper Energy will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, May 15th. Viper Energy's payout ratio is presently 31.58%.

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.

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