Vine Energy (NYSE:VEI) Stock Price Up 5%

Shares of Vine Energy Inc. (NYSE:VEI) rose 5% during trading on Wednesday . The stock traded as high as $17.28 and last traded at $17.28. Approximately 2,148 shares traded hands during trading, a decline of 99% from the average daily volume of 428,604 shares. The stock had previously closed at $16.46.

A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Vine Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 11th. Morgan Stanley downgraded Vine Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $18.00 to $14.00 in a report on Monday, August 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $17.00.

The business has a fifty day simple moving average of $14.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.25.

Vine Energy (NYSE:VEI) last posted its earnings results on Friday, August 13th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.28. The business had revenue of $97.66 million during the quarter. Equities analysts anticipate that Vine Energy Inc. will post 0.5 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Blackstone Group Inc. bought a new position in shares of Vine Energy during the first quarter valued at approximately $720,640,000. Encompass Capital Advisors LLC bought a new stake in Vine Energy in the first quarter valued at $20,610,000. Zimmer Partners LP purchased a new position in Vine Energy during the 1st quarter valued at $20,610,000. BlackRock Inc. bought a new position in Vine Energy in the 2nd quarter worth $20,807,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Vine Energy in the 1st quarter worth about $17,769,000.

About Vine Energy (NYSE:VEI)

Vine Energy Inc, an energy company, focuses on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The company was founded in 2014 and is based in Plano, Texas.

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