Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) – Stock analysts at Northland Capmk reduced their Q2 2023 earnings estimates for shares of Vertex Energy in a research note issued on Thursday, June 1st. Northland Capmk analyst D. Schafer now expects that the industrial products company will earn ($0.08) per share for the quarter, down from their prior estimate of $0.24. The consensus estimate for Vertex Energy’s current full-year earnings is ($0.08) per share. Northland Capmk also issued estimates for Vertex Energy’s Q3 2023 earnings at $0.38 EPS, Q4 2023 earnings at $0.55 EPS and FY2023 earnings at ($0.36) EPS.
A number of other research firms have also issued reports on VTNR. TD Cowen assumed coverage on Vertex Energy in a report on Friday, March 10th. They set a “market perform” rating and a $8.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Vertex Energy in a research report on Wednesday, March 1st. Northland Securities began coverage on Vertex Energy in a research report on Wednesday, February 8th. They set an “outperform” rating and a $15.00 price objective on the stock. StockNews.com lowered Vertex Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Craig Hallum boosted their target price on Vertex Energy from $12.00 to $15.00 in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.43.
Vertex Energy Stock Down 2.2 %
Institutional Investors Weigh In On Vertex Energy
Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd raised its position in Vertex Energy by 9.2% during the first quarter. XTX Topco Ltd now owns 20,163 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 1,701 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Vertex Energy by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 147,090 shares of the industrial products company’s stock worth $912,000 after buying an additional 1,935 shares during the period. Sigma Planning Corp grew its stake in shares of Vertex Energy by 25.2% in the first quarter. Sigma Planning Corp now owns 14,400 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 2,900 shares during the last quarter. Northern Trust Corp grew its stake in shares of Vertex Energy by 3.8% in the first quarter. Northern Trust Corp now owns 79,299 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 2,903 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its position in Vertex Energy by 4.0% during the 4th quarter. Leavell Investment Management Inc. now owns 78,000 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 63.44% of the company’s stock.
Insider Buying and Selling at Vertex Energy
In other news, CEO Benjamin P. Cowart sold 66,666 shares of the firm’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $8.00, for a total value of $533,328.00. Following the completion of the transaction, the chief executive officer now directly owns 5,450,608 shares of the company’s stock, valued at $43,604,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Benjamin P. Cowart sold 66,667 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $8.29, for a total value of $552,669.43. Following the sale, the chief executive officer now owns 5,517,274 shares in the company, valued at $45,738,201.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Benjamin P. Cowart sold 66,666 shares of the stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $8.00, for a total value of $533,328.00. Following the completion of the sale, the chief executive officer now owns 5,450,608 shares in the company, valued at approximately $43,604,864. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.
About Vertex Energy
Vertex Energy, Inc engages in the recycle of industrial waste streams and off-specification commercial chemical products. The firm focuses on the recycle of used motor oil and other petroleum by-products. It operates through the following segments: Black Oil, Refining and Marketing and Recovery. The Black Oil segment collects and purchases used motor oil from third-party generators, established network of local and regional collectors and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners.
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