Victory Capital Management Inc. Sells 375,657 Shares of Vital Energy, Inc. (NYSE:VTLE)

Key Points

• Victory Capital Management Inc. significantly reduced its holdings in Vital Energy, Inc. by 69.2% during the first quarter, leaving them with approximately 167,429 shares valued at $3.55 million.
• Brokerage firms have downgraded Vital Energy to underperform, with Bank of America reducing its price target from $33.00 to $27.00 and an average consensus price target now at $28.30.
• Vital Energy's recent stock performance showed a bounce, with shares trading up by $1.25 to $19.83, although it has seen highs and lows in the past year, ranging from $12.30 to $44.94.

Victory Capital Management Inc. cut its stake in Vital Energy, Inc. (NYSE:VTLE - Free Report) by 69.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,429 shares of the company's stock after selling 375,657 shares during the quarter. Victory Capital Management Inc. owned approximately 0.43% of Vital Energy worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Vital Energy by 53.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,652 shares of the company's stock valued at $311,000 after purchasing an additional 5,079 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Vital Energy by 14.5% during the 4th quarter. Northern Trust Corp now owns 304,345 shares of the company's stock valued at $9,410,000 after purchasing an additional 38,537 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Vital Energy by 3,678.3% during the 1st quarter. GAMMA Investing LLC now owns 30,642 shares of the company's stock valued at $650,000 after purchasing an additional 29,831 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Vital Energy by 19.1% during the 4th quarter. Ameriprise Financial Inc. now owns 123,148 shares of the company's stock valued at $3,808,000 after purchasing an additional 19,753 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Vital Energy by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,116,497 shares of the company's stock valued at $65,442,000 after purchasing an additional 62,771 shares in the last quarter. 86.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Richard D. Campbell sold 250,000 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $18.25, for a total transaction of $4,562,500.00. Following the transaction, the insider owned 7,618,933 shares in the company, valued at approximately $139,045,527.25. The trade was a 3.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO M. Jason Pigott acquired 5,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $18.09 per share, for a total transaction of $99,495.00. Following the acquisition, the chief executive officer owned 251,533 shares in the company, valued at approximately $4,550,231.97. This trade represents a 2.24% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.50% of the company's stock.

Vital Energy Stock Performance

Shares of NYSE:VTLE traded down $0.67 on Thursday, hitting $18.71. 267,124 shares of the company were exchanged, compared to its average volume of 1,243,680. The company's 50 day moving average price is $17.73 and its two-hundred day moving average price is $21.33. Vital Energy, Inc. has a one year low of $12.30 and a one year high of $44.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $725.54 million, a price-to-earnings ratio of -5.55 and a beta of 1.60.

Vital Energy (NYSE:VTLE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.26. Vital Energy had a negative net margin of 6.37% and a positive return on equity of 10.34%. The company had revenue of $512.18 million for the quarter, compared to the consensus estimate of $528.76 million. During the same quarter in the previous year, the firm posted $1.84 EPS. The business's revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Vital Energy, Inc. will post 8.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James Financial downgraded shares of Vital Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. Wells Fargo & Company reiterated a "mixed" rating on shares of Vital Energy in a report on Tuesday, July 15th. Mizuho dropped their target price on shares of Vital Energy from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $17.00 target price (up previously from $15.00) on shares of Vital Energy in a report on Thursday, July 17th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.30.

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.