Vital Energy (NYSE:VTLE) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

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

Vital Energy Stock Up 3.8 %

Shares of Vital Energy stock traded up $1.11 during trading on Thursday, reaching $30.19. 700,118 shares of the company traded hands, compared to its average volume of 917,476. The firm has a market capitalization of $1.15 billion, a PE ratio of 3.39 and a beta of 3.16. Vital Energy has a 1-year low of $25.85 and a 1-year high of $58.30. The company has a 50 day moving average price of $28.78 and a 200-day moving average price of $39.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.51 and a quick ratio of 0.51.

Wall Street Analyst Weigh In

VTLE has been the topic of several research reports. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. dropped their price objective 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. Truist Financial dropped their price objective 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. Mizuho dropped their price objective 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. Finally, BMO Capital Markets dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Vital Energy presently has an average rating of “Hold” and a consensus target price of $47.83.

Insiders Place Their Bets

In other news, EVP Mark David Denny sold 5,145 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $30.22, for a total transaction of $155,481.90. Following the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark David Denny sold 5,145 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $30.22, for a total transaction of $155,481.90. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO M. Jason Pigott purchased 2,500 shares of Vital Energy stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $37.85 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over 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.