Viper Energy Inc. (NASDAQ:VNOM) Sees Large Increase in Short Interest

Viper Energy Inc. (NASDAQ:VNOM) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 13,449,119 shares, a growth of 37.6% from the January 15th total of 9,777,400 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily volume of 2,415,755 shares, the days-to-cover ratio is presently 5.6 days. Based on an average daily volume of 2,415,755 shares, the days-to-cover ratio is presently 5.6 days. Currently, 3.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new position in Viper Energy in the 2nd quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new position in shares of Viper Energy in the fourth quarter worth $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Viper Energy in the third quarter valued at $31,000. Ameriflex Group Inc. purchased a new position in shares of Viper Energy in the third quarter valued at $38,000. Finally, Assetmark Inc. raised its stake in shares of Viper Energy by 48.7% during the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 350 shares during the period. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

VNOM stock traded down $0.41 during midday trading on Tuesday, hitting $43.84. The company’s stock had a trading volume of 1,049,279 shares, compared to its average volume of 2,310,907. Viper Energy has a 1 year low of $34.71 and a 1 year high of $51.47. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 27.96 and a beta of 0.51. The stock’s 50-day moving average price is $39.65 and its 200 day moving average price is $38.48. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VNOM shares. Piper Sandler lowered their price objective on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Mizuho raised their target price on Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Barclays dropped their price target on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and an average target price of $52.71.

About Viper Energy

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.