Wells Fargo & Company Issues Pessimistic Forecast for Vital Energy (NYSE:VTLE) Stock Price

Vital Energy (NYSE:VTLE) had its price objective reduced by analysts at Wells Fargo & Company from $36.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 6.85% from the company’s previous close.

A number of other analysts have also weighed in on the company. Raymond James lowered their target price on Vital Energy from $44.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Williams Trading set a $27.00 price objective on shares of Vital Energy in a research report on Wednesday, March 5th. Siebert Williams Shank cut shares of Vital Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $62.00 to $27.00 in a research report on Wednesday, March 5th. Piper Sandler cut their price target 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. Finally, Truist Financial lowered their price objective on Vital Energy from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.54.

Vital Energy Price Performance

VTLE traded down $0.74 during midday trading on Tuesday, reaching $22.46. 286,153 shares of the company’s stock were exchanged, compared to its average volume of 1,058,595. Vital Energy has a one year low of $19.85 and a one year high of $58.30. The firm has a market capitalization of $856.24 million, a price-to-earnings ratio of -4.73 and a beta of 3.07. The business has a 50-day simple moving average of $29.24 and a two-hundred day simple moving average of $29.57. 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 released its quarterly earnings data on Wednesday, February 19th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.27. The firm had revenue of $534.37 million during the quarter, compared to analyst estimates 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, research analysts predict that Vital Energy will post 8.49 EPS for the current 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 stock was sold at an average price of $20.73, for a total value of $117,601.29. Following the completion of the sale, the chief operating officer now owns 46,413 shares of the company’s stock, valued at approximately $962,141.49. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark David Denny sold 5,974 shares of the company’s 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 sale, the executive vice president now directly owns 42,494 shares in the company, valued at $880,900.62. This trade represents a 12.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,647 shares of company stock worth $448,742. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Vital Energy

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in Vital Energy by 3.6% in the third quarter. The Manufacturers Life Insurance Company now owns 14,490 shares of the company’s stock valued at $390,000 after buying an additional 503 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Vital Energy by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,278 shares of the company’s stock worth $503,000 after purchasing an additional 535 shares during the period. US Bancorp DE boosted its position in Vital Energy by 9.1% during the fourth quarter. US Bancorp DE now owns 6,971 shares of the company’s stock worth $216,000 after purchasing an additional 581 shares during the period. ClearAlpha Technologies LP increased its holdings in shares of Vital Energy by 5.1% in the third quarter. ClearAlpha Technologies LP now owns 13,250 shares of the company’s stock valued at $356,000 after purchasing an additional 644 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Vital Energy by 6.1% during the 4th quarter. Comerica Bank now owns 12,796 shares of the company’s stock worth $396,000 after buying an additional 730 shares during the last quarter. 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.