335,000 Shares in Vital Energy, Inc. $VTLE Acquired by Ancient Art L.P.

Key Points

• Ancient Art L.P. acquired 335,000 shares of Vital Energy, Inc. for approximately $7.11 million, making it the 11th largest position in their investment portfolio.
• Brokerages have largely downgraded Vital Energy, with the consensus rating now at "Reduce" and an average target price of $28.20.
• Vital Energy reported a 51% increase in earnings per share year-over-year, with a quarterly revenue of $429.63 million, lower than analyst expectations of $481.25 million.

Ancient Art L.P. acquired a new stake in shares of Vital Energy, Inc. (NYSE:VTLE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 335,000 shares of the company's stock, valued at approximately $7,109,000. Vital Energy accounts for about 2.1% of Ancient Art L.P.'s investment portfolio, making the stock its 11th largest holding. Ancient Art L.P. owned about 0.86% of Vital Energy at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westwood Holdings Group Inc. raised its position in shares of Vital Energy by 48.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,284,584 shares of the company's stock valued at $69,699,000 after purchasing an additional 1,070,289 shares during the period. Vanguard Group Inc. raised its stake in shares of Vital Energy by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,162,797 shares of the company's stock worth $45,895,000 after acquiring an additional 46,300 shares in the last quarter. Woodline Partners LP acquired a new position in Vital Energy during the 4th quarter valued at approximately $39,392,000. American Century Companies Inc. increased its stake in Vital Energy by 35.8% during the 1st quarter. American Century Companies Inc. now owns 675,293 shares of the company's stock valued at $14,330,000 after purchasing an additional 177,851 shares in the last quarter. Finally, Condire Management LP acquired a new stake in shares of Vital Energy in the fourth quarter worth $19,066,000. Institutional investors own 86.54% of the company's stock.

Vital Energy Stock Performance

Vital Energy stock traded down $0.68 during mid-day trading on Monday, reaching $15.72. The company's stock had a trading volume of 645,090 shares, compared to its average volume of 1,364,396. Vital Energy, Inc. has a twelve month low of $12.30 and a twelve month high of $36.72. The firm has a market cap of $608.33 million, a price-to-earnings ratio of -0.79 and a beta of 1.62. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average price of $16.97 and a 200-day moving average price of $17.83.

Vital Energy (NYSE:VTLE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04. Vital Energy had a negative net margin of 38.52% and a positive return on equity of 11.86%. The firm had revenue of $429.63 million for the quarter, compared to analysts' expectations of $481.25 million. During the same period in the previous year, the business earned $1.46 earnings per share. Vital Energy's revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Vital Energy, Inc. will post 8.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on VTLE. Piper Sandler decreased their price target on shares of Vital Energy from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Mizuho reduced their price objective on shares of Vital Energy from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of Vital Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company reiterated a "mixed" rating on shares of Vital Energy in a research report on Tuesday, July 15th. Finally, Raymond James Financial cut shares of Vital Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Vital Energy has a consensus rating of "Reduce" and an average target price of $28.20.

Insider Buying and Selling at Vital Energy

In related news, major shareholder Richard D. Campbell sold 50,000 shares of Vital Energy stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $18.12, for a total value of $906,000.00. Following the completion of the sale, the insider directly owned 7,568,933 shares in the company, valued at $137,149,065.96. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

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.