Ares Management LLC raised its position in Vine Energy Inc. (NYSE:VEI) by 28.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 90,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Ares Management LLC owned approximately 0.22% of Vine Energy worth $1,403,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in shares of Vine Energy during the second quarter valued at approximately $262,000. Stifel Financial Corp purchased a new position in shares of Vine Energy during the second quarter valued at approximately $714,000. Geode Capital Management LLC purchased a new position in shares of Vine Energy during the second quarter valued at approximately $6,055,000. Vanguard Group Inc. boosted its position in shares of Vine Energy by 156.3% during the second quarter. Vanguard Group Inc. now owns 1,025,223 shares of the company’s stock valued at $15,983,000 after buying an additional 625,223 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Vine Energy during the second quarter valued at approximately $1,103,000.
Shares of VEI traded up $0.36 during midday trading on Thursday, reaching $16.93. The stock had a trading volume of 4,091 shares, compared to its average volume of 403,982. The company’s 50-day moving average is $15.64 and its 200 day moving average is $14.54. Vine Energy Inc. has a 12-month low of $10.85 and a 12-month high of $17.83. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.43 and a quick ratio of 0.43.
A number of analysts recently commented on the company. Zacks Investment Research lowered Vine Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 22nd. Morgan Stanley lowered Vine Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $18.00 to $14.00 in a report on Monday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $17.00.
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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