Viper Energy, Inc. (NASDAQ:VNOM) Short Interest Up 21.8% in July

Viper Energy, Inc. (NASDAQ:VNOM) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 4,700,000 shares, a growth of 21.8% from the July 15th total of 3,860,000 shares. Based on an average daily volume of 966,500 shares, the days-to-cover ratio is currently 4.9 days.

Viper Energy Stock Performance

Shares of VNOM stock traded down $0.83 during trading hours on Friday, reaching $46.85. 687,887 shares of the company traded hands, compared to its average volume of 950,776. The firm has a 50-day moving average price of $40.57 and a 200 day moving average price of $38.12. The company has a market cap of $8.29 billion, a P/E ratio of 17.22 and a beta of 1.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. Viper Energy has a 12-month low of $26.71 and a 12-month high of $47.69.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company’s revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, sell-side analysts predict that Viper Energy will post 2.08 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. Viper Energy’s payout ratio is presently 39.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VNOM. Evercore ISI increased their price target on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Piper Sandler increased their target price on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. TD Securities boosted their price target on Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Truist Financial increased their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.71.

Hedge Funds Weigh In On Viper Energy

Several large investors have recently made changes to their positions in the business. Arizona State Retirement System grew its position in shares of Viper Energy by 2.0% during the second quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after purchasing an additional 453 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Viper Energy by 22.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,013 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 547 shares in the last quarter. Aurora Investment Counsel raised its position in shares of Viper Energy by 1.5% during the first quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock valued at $2,024,000 after buying an additional 757 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of Viper Energy by 12.5% during the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock valued at $270,000 after buying an additional 800 shares during the last quarter. Finally, Adalta Capital Management LLC lifted its holdings in shares of Viper Energy by 13.9% in the first quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock worth $285,000 after buying an additional 905 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.