Vital Energy, Inc. (NYSE:VTLE) Expected to Earn Q3 2024 Earnings of $1.71 Per Share

Vital Energy, Inc. (NYSE:VTLE) – Capital One Financial lowered their Q3 2024 earnings per share (EPS) estimates for Vital Energy in a research report issued on Tuesday, October 8th. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $1.71 for the quarter, down from their prior forecast of $1.84. The consensus estimate for Vital Energy’s current full-year earnings is $6.58 per share. Capital One Financial also issued estimates for Vital Energy’s Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $2.58 EPS and FY2024 earnings at $7.60 EPS.

Vital Energy (NYSE:VTLE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.42). Vital Energy had a net margin of 13.97% and a return on equity of 11.58%. The business had revenue of $476.37 million for the quarter, compared to analyst estimates of $468.76 million. During the same period in the prior year, the business earned $4.35 EPS. The company’s revenue for the quarter was up 42.2% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on VTLE. BMO Capital Markets cut 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 research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on Vital Energy from $45.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Piper Sandler decreased their price objective on Vital Energy from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Wolfe Research initiated coverage on Vital Energy in a research report on Thursday, July 18th. They set an “underperform” rating and a $50.00 price objective on the stock. Finally, Bank of America reissued an “underperform” rating and issued a $46.00 target price on shares of Vital Energy in a research report on Friday, June 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.92.

Vital Energy Stock Performance

NYSE VTLE opened at $29.66 on Thursday. Vital Energy has a 52-week low of $25.94 and a 52-week high of $58.30. The stock has a market cap of $1.09 billion, a PE ratio of 1.23 and a beta of 3.16. The firm has a 50-day moving average of $32.17 and a 200-day moving average of $42.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.51 and a current ratio of 0.51.

Insiders Place Their Bets

In other news, COO Kathryn Anne Hill sold 2,023 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $30.22, for a total value of $61,135.06. Following the completion of the transaction, the chief operating officer now directly owns 29,091 shares in the company, valued at approximately $879,130.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Kathryn Anne Hill sold 2,023 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $30.22, for a total value of $61,135.06. Following the sale, the chief operating officer now directly owns 29,091 shares of the company’s stock, valued at $879,130.02. This trade 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 this link. Also, CFO Bryan Lemmerman sold 10,000 shares of Vital Energy stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $28.54, for a total value of $285,400.00. Following the completion of the transaction, the chief financial officer now owns 77,516 shares in the company, valued at approximately $2,212,306.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,168 shares of company stock worth $502,017 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Vital Energy

A number of hedge funds have recently added to or reduced their stakes in VTLE. Vanguard Group Inc. grew its holdings in shares of Vital Energy by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,833,797 shares of the company’s stock worth $96,348,000 after purchasing an additional 17,054 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Vital Energy by 19.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,723,075 shares of the company’s stock worth $77,227,000 after acquiring an additional 282,574 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Vital Energy in the 2nd quarter valued at approximately $64,690,000. Victory Capital Management Inc. raised its stake in shares of Vital Energy by 800.9% during the second quarter. Victory Capital Management Inc. now owns 541,337 shares of the company’s stock valued at $24,263,000 after acquiring an additional 481,248 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Vital Energy by 18.0% during the second quarter. Millennium Management LLC now owns 303,275 shares of the company’s stock worth $13,593,000 after purchasing an additional 46,248 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.

Vital Energy Company Profile

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.