Vital Energy (NYSE:VTLE) Trading Down 16.6% - Here's What Happened

Vital Energy, Inc. (NYSE:VTLE - Get Free Report)'s share price dropped 16.6% on Thursday . The company traded as low as $17.34 and last traded at $17.35. Approximately 814,209 shares were traded during trading, a decline of 16% from the average daily volume of 974,584 shares. The stock had previously closed at $20.80.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VTLE. Wolfe Research raised shares of Vital Energy from an "underperform" rating to a "peer perform" rating in a report on Friday, January 3rd. 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 research report on Monday, March 10th. Wells Fargo & Company cut their target price on Vital Energy from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price target on Vital Energy from $34.00 to $23.00 and set an "underweight" rating for the company in a research note on Thursday, March 13th. Finally, Mizuho upped their price objective on shares of Vital Energy from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $38.08.

Vital Energy Price Performance

The company has a market cap of $493.10 million, a price-to-earnings ratio of -2.72 and a beta of 2.82. The company's fifty day moving average price is $26.11 and its two-hundred day moving average price is $28.98. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.27. Vital Energy had a negative net margin of 8.89% and a positive return on equity of 9.48%. The company had revenue of $534.37 million during the quarter, compared to analysts' expectations of $550.90 million. On average, equities research analysts forecast that Vital Energy, Inc. will post 8.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vital Energy news, major shareholder Richard D. Campbell purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $17.75 per share, for a total transaction of $88,750.00. Following the completion of the purchase, the insider now owns 43,072 shares of the company's stock, valued at approximately $764,528. The trade was a 13.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bryan Lemmerman sold 10,000 shares of Vital Energy stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $20.73, for a total transaction of $207,300.00. Following the completion of the sale, the chief financial officer now owns 97,556 shares of the company's stock, valued at $2,022,335.88. This trade represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,647 shares of company stock valued at $448,742 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vital Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Vital Energy by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,490 shares of the company's stock valued at $390,000 after purchasing an additional 503 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vital Energy by 3.4% in the 4th 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 grew its holdings in Vital Energy by 9.1% during the 4th quarter. US Bancorp DE now owns 6,971 shares of the company's stock worth $216,000 after acquiring an additional 581 shares during the period. Comerica Bank increased its holdings in Vital Energy by 6.1% in the fourth quarter. Comerica Bank now owns 12,796 shares of the company's stock worth $396,000 after purchasing an additional 730 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Vital Energy by 6.4% during the 3rd quarter. Franklin Resources Inc. now owns 12,662 shares of the company's stock valued at $363,000 after acquiring an additional 758 shares during the period. 86.54% of the stock is currently owned by institutional investors and hedge funds.

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.