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

Vital Energy (NYSE:VTLE) had its price target lowered by Wells Fargo & Company from $36.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.79% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Vital Energy from $32.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Mizuho upped their price target on shares of Vital Energy from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Williams Trading set a $27.00 price target on shares of Vital Energy in a report on Wednesday, March 5th. Raymond James decreased their price objective on shares of Vital Energy from $44.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. cut their price objective on Vital Energy from $34.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.54.

Vital Energy Stock Up 0.6 %

VTLE opened at $22.48 on Tuesday. The firm has a market capitalization of $856.77 million, a P/E ratio of -4.73 and a beta of 3.07. Vital Energy has a one year low of $19.85 and a one year high of $58.30. The company has a fifty day moving average price of $28.70 and a 200-day moving average price of $29.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.78 and a quick ratio of 0.67.

Vital Energy (NYSE:VTLE) last posted its earnings results on Wednesday, February 19th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.03 by $0.27. The business had revenue of $534.37 million during the quarter, compared to analysts’ expectations of $550.90 million. Vital Energy had a positive return on equity of 9.48% and a negative net margin of 8.89%. Equities research analysts expect that Vital Energy will post 8.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Kathryn Anne Hill sold 5,673 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $20.73, for a total transaction of $117,601.29. Following the sale, the chief operating officer now owns 46,413 shares in the company, valued at $962,141.49. This represents a 10.89 % 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, 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 value of $123,841.02. Following the completion of the sale, the executive vice president now directly owns 42,494 shares of the company’s stock, valued at approximately $880,900.62. The trade was a 12.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,647 shares of company stock worth $448,742. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vital Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new stake in Vital Energy during the third quarter valued at approximately $26,000. Sterling Capital Management LLC increased its holdings in Vital Energy by 805.9% in the 4th quarter. Sterling Capital Management LLC now owns 915 shares of the company’s stock valued at $28,000 after acquiring an additional 814 shares during the last quarter. Nisa Investment Advisors LLC boosted its position 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 valued at $34,000 after acquiring an additional 803 shares during the last quarter. R Squared Ltd purchased a new stake in Vital Energy in the fourth quarter worth $34,000. Finally, Quarry LP purchased a new stake in shares of Vital Energy in the fourth quarter worth about $37,000. 86.54% of the stock is 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.