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.
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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