Vine Energy (NYSE:VEI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Vine Energy (NYSE:VEI) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Vine Energy Inc. is an energy company. It is focused on the development of natural gas properties principally in the stacked Haynesville and Mid-Bossier shale. Vine Energy Inc. is based in Plano, TX. “

Separately, Morgan Stanley downgraded Vine Energy from an overweight rating to an equal weight rating and reduced their price target for the stock from $18.00 to $14.00 in a research report on Monday, August 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Vine Energy currently has an average rating of Buy and an average target price of $17.00.

Shares of VEI stock opened at $17.99 on Tuesday. The business’s fifty day simple moving average is $15.87 and its 200-day simple moving average is $14.69. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.25. Vine Energy has a 12-month low of $10.85 and a 12-month high of $18.42.

Vine Energy (NYSE:VEI) last issued its quarterly earnings results on Friday, August 13th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.28. The business had revenue of $97.66 million for the quarter. As a group, research analysts forecast that Vine Energy will post 0.5 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in VEI. Ameritas Investment Partners Inc. acquired a new stake in Vine Energy during the 2nd quarter worth about $25,000. JPMorgan Chase & Co. acquired a new stake in Vine Energy during the 2nd quarter worth about $123,000. Parametric Portfolio Associates LLC acquired a new stake in Vine Energy during the 2nd quarter worth about $156,000. Alliancebernstein L.P. acquired a new stake in Vine Energy during the 2nd quarter worth about $178,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Vine Energy during the 2nd quarter worth about $188,000.

About Vine Energy

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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