Ares Management LLC Increases Stock Position in Vine Energy Inc. (NYSE:VEI)

Ares Management LLC lifted its holdings in shares of Vine Energy Inc. (NYSE:VEI) by 28.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Ares Management LLC owned 0.22% of Vine Energy worth $1,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. purchased a new position in Vine Energy in the 1st quarter valued at $6,080,000. Citigroup Inc. acquired a new stake in Vine Energy in the first quarter valued at $6,999,000. Monashee Investment Management LLC acquired a new stake in Vine Energy in the first quarter valued at $1,649,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Vine Energy in the first quarter valued at $2,101,000. Finally, Laurion Capital Management LP acquired a new stake in Vine Energy in the first quarter valued at $1,374,000.

VEI traded up $0.36 during midday trading on Thursday, hitting $16.93. The company’s stock had a trading volume of 4,091 shares, compared to its average volume of 403,982. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.25. The firm has a 50-day moving average price of $15.64 and a two-hundred day moving average price of $14.54. Vine Energy Inc. has a 52-week low of $10.85 and a 52-week high of $17.83.

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

A number of equities research analysts have commented on the company. Morgan Stanley downgraded Vine Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $18.00 to $14.00 in a report on Monday, August 23rd. Zacks Investment Research downgraded Vine Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vine Energy has a consensus rating of “Buy” and an average target price 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.

Further Reading: Mutual funds are not immune from market timing

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Institutional Ownership by Quarter for Vine Energy (NYSE:VEI)

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