Vital Energy (NYSE:VTLE) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Vital Energy (NYSE:VTLE) released its quarterly earnings data on Monday. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.07), Zacks reports. The business had revenue of $420.83 million during the quarter, compared to the consensus estimate of $458.87 million. Vital Energy had a negative net margin of 38.52% and a positive return on equity of 11.86%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.61 earnings per share.

Vital Energy Trading Up 2.9%

Shares of VTLE stock opened at $16.17 on Tuesday. The stock has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $16.67. Vital Energy has a 52-week low of $12.30 and a 52-week high of $36.72. The firm has a market capitalization of $625.80 million, a PE 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Vital Energy by 30.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,304 shares of the company’s stock valued at $69,000 after acquiring an additional 1,005 shares during the last quarter. State of Wyoming bought a new position in shares of Vital Energy in the 2nd quarter valued at about $172,000. State of Tennessee Department of Treasury lifted its holdings in shares of Vital Energy by 133.5% in the 2nd quarter. State of Tennessee Department of Treasury now owns 14,341 shares of the company’s stock valued at $231,000 after acquiring an additional 8,200 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Vital Energy in the 2nd quarter valued at about $253,000. Finally, Engineers Gate Manager LP bought a new position in shares of Vital Energy in the 2nd quarter valued at about $315,000. Institutional investors own 86.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on VTLE. Piper Sandler upped their price objective on Vital Energy from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Zacks Research cut Vital Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Wall Street Zen cut Vital Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company decreased their target price on shares of Vital Energy from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Finally, Mizuho reduced their price objective on Vital Energy from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $27.33.

About Vital Energy

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.