Vital Energy (NYSE:VTLE) Announces Earnings Results

Vital Energy (NYSE:VTLE) posted its quarterly earnings results on Wednesday. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15, Briefing.com reports. Vital Energy had a return on equity of 9.25% and a net margin of 25.09%. The company had revenue of $459.23 million for the quarter, compared to analysts’ expectations of $461.58 million. During the same period last year, the firm earned $5.16 earnings per share. Vital Energy’s quarterly revenue was up 5.4% on a year-over-year basis.

Vital Energy Trading Up 2.0 %

VTLE stock opened at $31.17 on Friday. The business has a fifty day simple moving average of $28.55 and a 200-day simple moving average of $39.02. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.59. Vital Energy has a 52 week low of $25.85 and a 52 week high of $58.30. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 2.18 and a beta of 3.16.

Analysts Set New Price Targets

VTLE has been the topic of several recent research reports. Truist Financial dropped their price target on Vital Energy from $66.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company lowered their price objective on Vital Energy from $41.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Mizuho decreased their price target on Vital Energy from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. KeyCorp lowered Vital Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets decreased their price target on Vital Energy from $48.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vital Energy currently has a consensus rating of “Hold” and an average price target of $47.83.

Insider Buying and Selling

In related news, CFO Bryan Lemmerman sold 10,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $28.54, for a total transaction of $285,400.00. Following the completion of the sale, the chief financial officer now directly owns 77,516 shares of the company’s stock, valued at approximately $2,212,306.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vital Energy news, EVP Mark David Denny sold 5,145 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $30.22, for a total value of $155,481.90. Following the completion of the transaction, the executive vice president now directly owns 26,358 shares of the company’s stock, valued at $796,538.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bryan Lemmerman sold 10,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $28.54, for a total transaction of $285,400.00. Following the transaction, the chief financial officer now directly owns 77,516 shares in the company, valued at $2,212,306.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,168 shares of company stock valued at $502,017. Company insiders own 1.20% of the company’s stock.

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.