Vital Energy (NYSE:VTLE) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Vital Energy (NYSE:VTLE) announced its earnings results on Monday. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.29), Zacks reports. Vital Energy had a negative net margin of 38.52% and a positive return on equity of 11.86%.

Vital Energy Price Performance

Shares of NYSE:VTLE traded up $0.46 during midday trading on Monday, reaching $16.17. 842,033 shares of the company’s stock traded hands, compared to its average volume of 1,257,491. Vital Energy has a 1 year low of $12.30 and a 1 year high of $36.72. The company has a market cap of $625.80 million, a P/E ratio of -0.82 and a beta of 1.45. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.79 and a current ratio of 0.79. The company has a fifty day simple moving average of $16.55 and a two-hundred day simple moving average of $16.66.

Institutional Trading of Vital Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VTLE. Osaic Holdings Inc. increased its position in shares of Vital Energy by 30.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,304 shares of the company’s stock worth $69,000 after purchasing an additional 1,005 shares during the last quarter. State of Wyoming purchased a new stake in Vital Energy during the second quarter worth approximately $172,000. State of Tennessee Department of Treasury increased its position in Vital Energy by 133.5% during the second quarter. State of Tennessee Department of Treasury now owns 14,341 shares of the company’s stock worth $231,000 after buying an additional 8,200 shares during the period. Cerity Partners LLC acquired a new position in Vital Energy during the second quarter worth approximately $253,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Vital Energy in the second quarter valued at approximately $315,000. 86.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Vital Energy from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Wall Street Zen downgraded shares of Vital Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Piper Sandler raised their price objective on shares of Vital Energy from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vital Energy in a report on Wednesday, October 8th. Finally, Mizuho dropped their price objective on shares of Vital Energy from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $27.33.

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.