Vital Energy (NYSE:VTLE) Stock Price Down 16.6% – Here’s What Happened

Vital Energy, Inc. (NYSE:VTLE) was down 16.6% during mid-day trading on Thursday . The stock traded as low as $17.34 and last traded at $17.35. Approximately 814,209 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 974,584 shares. The stock had previously closed at $20.80.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VTLE shares. Citigroup cut shares of Vital Energy to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler cut their price target on shares of Vital Energy from $32.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Bank of America cut their target price on Vital Energy from $33.00 to $27.00 and set an “underperform” rating on the stock in a research note on Tuesday. Wolfe Research raised Vital Energy from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on shares of Vital Energy from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.08.

Vital Energy Stock Down 17.1 %

The stock has a market capitalization of $531.22 million, a P/E ratio of -2.93 and a beta of 3.07. The stock has a 50 day moving average price of $26.51 and a 200-day moving average price of $29.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.78 and a quick ratio of 0.67.

Vital Energy (NYSE:VTLE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.27. The business had revenue of $534.37 million for the quarter, compared to the consensus estimate of $550.90 million. Vital Energy had a negative net margin of 8.89% and a positive return on equity of 9.48%. As a group, research analysts expect that Vital Energy, Inc. will post 8.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Bryan Lemmerman sold 10,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $20.73, for a total value of $207,300.00. Following the completion of the sale, the chief financial officer now directly owns 97,556 shares of the company’s stock, valued at $2,022,335.88. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kathryn Anne Hill sold 5,673 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $20.73, for a total value of $117,601.29. Following the sale, the chief operating officer now directly owns 46,413 shares in the company, valued at approximately $962,141.49. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,647 shares of company stock valued at $448,742. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new position in Vital Energy during the fourth quarter valued at approximately $788,000. Geode Capital Management LLC lifted its stake in Vital Energy by 2.9% in the third quarter. Geode Capital Management LLC now owns 633,017 shares of the company’s stock worth $17,031,000 after purchasing an additional 17,782 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Vital Energy during the fourth quarter valued at approximately $750,000. Wolverine Asset Management LLC bought a new stake in shares of Vital Energy during the 4th quarter worth approximately $1,292,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Vital Energy by 25.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 504,885 shares of the company’s stock valued at $15,611,000 after purchasing an additional 103,583 shares during the period. 86.54% of the stock is currently owned by institutional investors.

Vital Energy Company Profile

Vital Energy, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company was formerly known as Laredo Petroleum, Inc and changed its name to Vital Energy, Inc in January 2023.