Vital Energy (NYSE:VTLE) Announces Earnings Results

Vital Energy (NYSE:VTLE) posted its quarterly earnings data on Wednesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15, Briefing.com reports. Vital Energy had a net margin of 13.97% and a return on equity of 11.58%. The firm had revenue of $459.23 million during the quarter, compared to the consensus estimate of $461.58 million. During the same quarter in the previous year, the firm posted $5.16 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Vital Energy Trading Up 2.8 %

NYSE VTLE traded up $0.81 on Thursday, hitting $29.89. The company’s stock had a trading volume of 662,687 shares, compared to its average volume of 917,231. 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 1-year low of $25.85 and a 1-year high of $58.30. The company’s 50-day moving average is $28.78 and its 200 day moving average is $39.24. The firm has a market cap of $1.14 billion, a PE ratio of 3.30 and a beta of 3.16.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VTLE shares. BMO Capital Markets cut their price target on shares of Vital Energy from $48.00 to $40.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Truist Financial cut their price target on shares of Vital Energy from $66.00 to $48.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wolfe Research started coverage on shares of Vital Energy in a report on Thursday, July 18th. They set an “underperform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Vital Energy from $45.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Finally, Mizuho cut their price target on shares of Vital Energy from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.83.

Insider Buying and Selling at Vital Energy

In other Vital Energy news, CEO M. Jason Pigott purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $37.85 per share, for a total transaction of $94,625.00. Following the transaction, the chief executive officer now owns 169,389 shares in the company, valued at $6,411,373.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Kathryn Anne Hill sold 2,023 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $30.22, for a total transaction of $61,135.06. Following the completion of the sale, the chief operating officer now directly owns 29,091 shares in the company, valued at $879,130.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO M. Jason Pigott purchased 2,500 shares of Vital Energy stock in a transaction on Monday, August 12th. The stock was bought at an average price of $37.85 per share, with a total value of $94,625.00. Following the completion of the acquisition, the chief executive officer now directly owns 169,389 shares of the company’s stock, valued at approximately $6,411,373.65. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 17,168 shares of company stock worth $502,017. 1.20% of the stock is currently owned by company insiders.

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.