Oppenheimer Weighs in on Vertex Energy, Inc.’s FY2022 Earnings (NASDAQ:VTNR)

Vertex Energy, Inc. (NASDAQ:VTNRGet Rating) – Research analysts at Oppenheimer issued their FY2022 EPS estimates for shares of Vertex Energy in a report issued on Tuesday, January 17th. Oppenheimer analyst N. Kaye forecasts that the industrial products company will post earnings of $0.05 per share for the year. The consensus estimate for Vertex Energy’s current full-year earnings is ($0.34) per share. Oppenheimer also issued estimates for Vertex Energy’s Q4 2022 earnings at $0.67 EPS and FY2024 earnings at $2.68 EPS.

Vertex Energy (NASDAQ:VTNRGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $810.21 million during the quarter, compared to analysts’ expectations of $943.06 million. Vertex Energy had a negative net margin of 3.11% and a positive return on equity of 42.83%.

VTNR has been the topic of a number of other reports. UBS Group assumed coverage on shares of Vertex Energy in a research note on Tuesday, December 13th. They set a “neutral” rating and a $6.90 price target on the stock. StockNews.com upgraded shares of Vertex Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 18th.

Vertex Energy Price Performance

Shares of NASDAQ:VTNR opened at $7.05 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm’s 50-day moving average is $6.90 and its two-hundred day moving average is $8.10. Vertex Energy has a 1 year low of $3.30 and a 1 year high of $18.10.

Institutional Trading of Vertex Energy

A number of hedge funds have recently added to or reduced their stakes in VTNR. Advisor Group Holdings Inc. boosted its stake in Vertex Energy by 122.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,770 shares of the industrial products company’s stock worth $142,000 after buying an additional 3,180 shares during the last quarter. Raymond James & Associates purchased a new stake in Vertex Energy during the 1st quarter worth approximately $164,000. Bank of New York Mellon Corp increased its holdings in Vertex Energy by 209.9% during the 1st quarter. Bank of New York Mellon Corp now owns 123,499 shares of the industrial products company’s stock worth $1,227,000 after purchasing an additional 83,645 shares during the last quarter. Citigroup Inc. increased its holdings in Vertex Energy by 198.4% during the 1st quarter. Citigroup Inc. now owns 202,850 shares of the industrial products company’s stock worth $2,016,000 after purchasing an additional 134,862 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Vertex Energy by 156.6% during the 1st quarter. Sei Investments Co. now owns 77,479 shares of the industrial products company’s stock worth $770,000 after purchasing an additional 47,279 shares during the last quarter. 63.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Benjamin P. Cowart sold 66,666 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $8.13, for a total transaction of $541,994.58. Following the completion of the sale, the chief executive officer now directly owns 5,717,274 shares of the company’s stock, valued at $46,481,437.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,666 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $8.13, for a total value of $541,994.58. Following the completion of the transaction, the chief executive officer now owns 5,717,274 shares in the company, valued at $46,481,437.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Benjamin P. Cowart sold 66,667 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $8.62, for a total value of $574,669.54. Following the completion of the transaction, the chief executive officer now owns 5,783,940 shares of the company’s stock, valued at approximately $49,857,562.80. The disclosure for this sale can be found here. Corporate insiders own 16.30% of the company’s stock.

Vertex Energy Company Profile

(Get Rating)

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.

Further Reading

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