Wells Fargo & Company Cuts Vital Energy (NYSE:VTLE) Price Target to $24.00

Vital Energy (NYSE:VTLE) had its target price reduced by Wells Fargo & Company from $36.00 to $24.00 in a research report report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages have also commented on VTLE. Citigroup lowered shares of Vital Energy to a “reduce” rating in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on Vital Energy from $32.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Raymond James reduced their price objective on Vital Energy from $44.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Williams Trading set a $27.00 target price on Vital Energy in a research note on Wednesday, March 5th. Finally, Truist Financial dropped their price target on Vital Energy from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Vital Energy currently has an average rating of “Hold” and an average target price of $39.54.

Vital Energy Stock Performance

VTLE stock opened at $22.11 on Tuesday. The business has a 50 day moving average of $28.41 and a 200-day moving average of $29.43. The firm has a market cap of $842.70 million, a PE ratio of -4.65 and a beta of 3.07. Vital Energy has a 12-month low of $19.85 and a 12-month high of $58.30. The company has a quick ratio of 0.67, a current ratio of 0.78 and a debt-to-equity ratio of 0.91.

Vital Energy (NYSE:VTLE) last announced 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 firm had revenue of $534.37 million during the quarter, compared to the consensus estimate of $550.90 million. Vital Energy had a positive return on equity of 9.48% and a negative net margin of 8.89%. As a group, sell-side analysts expect that Vital Energy will post 8.49 earnings per share for the current year.

Insider Activity

In related news, EVP Mark David Denny sold 5,974 shares of Vital Energy stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $20.73, for a total transaction of $123,841.02. Following the completion of the sale, the executive vice president now owns 42,494 shares of the company’s stock, valued at approximately $880,900.62. This trade represents a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kathryn Anne Hill sold 5,673 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $20.73, for a total value of $117,601.29. Following the transaction, the chief operating officer now owns 46,413 shares of the company’s stock, valued at approximately $962,141.49. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,647 shares of company stock worth $448,742. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VTLE. First Horizon Advisors Inc. purchased a new position in Vital Energy in the 3rd quarter worth approximately $26,000. Sterling Capital Management LLC raised its position in shares of Vital Energy by 805.9% during the 4th quarter. Sterling Capital Management LLC now owns 915 shares of the company’s stock valued at $28,000 after buying an additional 814 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Vital Energy by 276.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,093 shares of the company’s stock worth $34,000 after acquiring an additional 803 shares during the last quarter. R Squared Ltd purchased a new position in Vital Energy in the fourth quarter worth $34,000. Finally, Quarry LP bought a new position in Vital Energy in the fourth quarter valued at $37,000. 86.54% of the stock is currently owned by institutional investors.

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.