Vital Energy, Inc. (NYSE:VTLE) Holdings Lowered by Bank of America Corp DE

Bank of America Corp DE reduced its position in Vital Energy, Inc. (NYSE:VTLE - Free Report) by 84.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,251 shares of the company's stock after selling 210,715 shares during the period. Bank of America Corp DE owned approximately 0.10% of Vital Energy worth $1,183,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Vital Energy by 805.9% in the 4th quarter. Sterling Capital Management LLC now owns 915 shares of the company's stock worth $28,000 after purchasing an additional 814 shares during the last quarter. Quarry LP bought a new stake in Vital Energy in the fourth quarter valued at about $37,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Vital Energy during the fourth quarter valued at approximately $96,000. BNP Paribas Financial Markets bought a new position in Vital Energy during the 4th quarter worth approximately $123,000. Finally, KLP Kapitalforvaltning AS bought a new position in Vital Energy during the 4th quarter worth approximately $124,000. 86.54% of the stock is currently owned by institutional investors and hedge funds.

Vital Energy Stock Performance

Vital Energy stock traded up $0.66 during mid-day trading on Tuesday, hitting $18.56. 1,238,533 shares of the company's stock traded hands, compared to its average volume of 1,098,917. 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, Inc. has a one year low of $12.30 and a one year high of $47.80. The firm has a 50 day moving average price of $15.34 and a 200 day moving average price of $24.47. The company has a market cap of $719.42 million, a PE ratio of -3.91 and a beta of 1.59.

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 for the quarter, topping the consensus estimate of $2.11 by $0.26. The business had revenue of $512.18 million during the quarter, compared to the consensus estimate of $528.76 million. Vital Energy had a negative net margin of 8.89% and a positive return on equity of 9.48%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. On average, equities analysts forecast that Vital Energy, Inc. will post 8.49 EPS for the current year.

Wall Street Analysts Forecast Growth

VTLE has been the topic of several research reports. Raymond James dropped their price target on Vital Energy from $44.00 to $30.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Piper Sandler dropped their target price on shares of Vital Energy from $23.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Bank of America decreased their price target on shares of Vital Energy from $33.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Citigroup lowered shares of Vital Energy to a "reduce" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Vital Energy has a consensus rating of "Hold" and an average target price of $30.36.

Insider Activity

In other Vital Energy news, CEO M. Jason Pigott acquired 5,500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $18.09 per share, with a total value of $99,495.00. Following the purchase, the chief executive officer now directly owns 251,533 shares of the company's stock, valued at approximately $4,550,231.97. This trade represents a 2.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Richard D. Campbell bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $17.75 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.50% of the company's stock.

Vital Energy 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.