Vertex Energy, Inc., an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates in three segments: Black Oil, Refining and Marketing, and Recovery. The Black Oil segment collects and purchases used motor oil directly from third-party generators; aggregates used motor oil from a network of local and regional collectors; and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners. It also produces and sells a vacuum gas oil product to refineries and marine fuels market; and base oil product to lubricant packagers and distributors. The Refining and Marketing segment gathers hydrocarbon streams in the form of petroleum distillates, transmix, and other chemical products that are purchased from pipeline operators, refineries, chemical processing facilities, and third-party providers; and sells end products, such as gasoline blendstock, pygas, and fuel oil cutter stock to oil companies or to petroleum trading and blending companies. The Recovery segment sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services. Vertex Energy, Inc. was founded in 2001 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NASDAQ
Website: vertexenergy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/9/2024 | $1.00 | Buy → Hold | Craig Hallum |
| 1/24/2024 | $2.00 | Outperform → Market Perform | Northland Capital |
| 12/19/2023 | $4.00 | Buy → Hold | Stifel |
| 7/26/2023 | Outperform → Perform | Oppenheimer | |
| 3/10/2023 | $8.00 | Market Perform | TD Cowen |
| 3/1/2023 | $14.00 | Perform → Outperform | Oppenheimer |
| 2/8/2023 | $15.00 | Outperform | Northland Capital |
| 12/14/2022 | $6.90 | Neutral | UBS |
| 8/10/2022 | Outperform → Perform | Oppenheimer | |
| 7/8/2022 | $18.00 | Outperform | Oppenheimer |
Enters into Restructuring Support Agreement with Lenders to Commence Expedited Voluntary Chapter 11 Proceeding $80 Million in New Debtor-In-Possession Financing to Fully Support Day-to-Day Business Operations Consensual Deal to Consummate a Chapter 11 Plan and/or Pursue a More Value-Maximizing Sale Transaction Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced it entered into a Restructuring Support Agreement (the "RSA") with overwhelming support of 100% of the Company's term loan lenders (the "Consenting Term Loan Lenders"). To facilitate the transactions contemplated under the
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that Doug Haugh is stepping down from his role as the Company's Chief Commercial Officer. Mr. Haugh has agreed to provide continued support throughout the rest of 2024, as a Senior Corporate Advisor. The Company also announced that Joshua Foster has been appointed as Chief Commercial Officer and that Benjamin P. Cowart, Chief Executive Officer, will assume interim Chief Operating Officer duties. Mr. Cowart stated, "We are grateful for Doug's leadership and contribution to Vertex over the last year and half. Doug was brought on board to l
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced its operational and financial results for the second quarter of 2024. The Company also updated its progress in the optimization of its hydrocracking capacity between conventional production and renewables production. The Company will host a conference call to discuss second quarter 2024 results today, at 9:00 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. Highlights for the second quarter of 2024 and through the date of this press release include: Secured new $15
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its second quarter 2024 financial results before the market opens on Thursday, August 8, 2024. A conference call will be held that same day at 9:00 A.M. ET to review the Company's financial results and discuss recent events. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at www.vertexenergy.com. To listen to a live b
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that Mr. James Rhame will be retiring as Chief Operating Officer (COO) effective July 25th, 2024. Mr. Rhame has agreed to continue supporting Vertex in a consulting role through the end of 2024. Upon Mr. Rhame's retirement, Mr. Doug Haugh, Vertex's Chief Commercial Officer, will also assume the role of interim Chief Operating Officer. Benjamin P. Cowart, President and CEO of Vertex, stated, "In 2022, we invited James to join our team and assist with the acquisition and transition of our refinery located in Mobile, Alabama, aware that he
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today provided an update to its financial and operational outlook for the second quarter of 2024. Highlights include: Expected reductions in direct operating expense of 7% and capital expenditures of 29%, compared to previous guidance midpoints; Anticipated conventional throughput of 68,000 barrels per day (bpd), within guidance range of 68,000 to 72,000 bpd; and Renewable throughput and utilization in line with prior guidance, which took into account the Company's pause and pivot strategy. Benjamin P. Cowart, President and CEO of Vertex, st
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced its operational and financial results for the first quarter of 2024. The Company also announced that it plans to optimize its hyrdrocracking capacity between conventional production and renewables production moving forward. The Company will host a conference call to discuss first quarter 2024 results today, at 9:00 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. Highlights for the first quarter of 2024 and through the date of this press release include: Continued
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today provided an update to its financial and operational outlook for the first quarter of 2024. Highlights include: Anticipated conventional throughput of 64,000 barrels per day (bpd) exceeding guidance of 60,000 to 63,000 bpd due to stronger capacity utilization compared to forecast; Strong renewable throughput and utilization in line with midpoint of guidance; Projected improved average first quarter crack spreads on finished refined products of 28% compared to fourth quarter 2023; and Forecasted reductions in direct operating expense by
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its first quarter 2024 financial results before the market opens on Thursday, May 9, 2024. A conference call will be held that same day at 9:00 A.M. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at www.vert
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced its financial results for the fourth quarter ended December 31, 2023. The Company will host a conference call to discuss fourth quarter 2023 results today, at 8:30 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. FOURTH QUARTER 2023 HIGHLIGHTS Reported net loss attributable to the Company of ($63.9) million, or ($0.84) per fully-diluted share Reported Adjusted EBITDA of ($35.1) million (see "Non-GAAP Financial Measures and Key Performance Indicators", below). Continued safe oper
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that Mr. James Rhame will be retiring as Chief Operating Officer (COO) effective July 25th, 2024. Mr. Rhame has agreed to continue supporting Vertex in a consulting role through the end of 2024. Upon Mr. Rhame's retirement, Mr. Doug Haugh, Vertex's Chief Commercial Officer, will also assume the role of interim Chief Operating Officer. Benjamin P. Cowart, President and CEO of Vertex, stated, "In 2022, we invited James to join our team and assist with the acquisition and transition of our refinery located in Mobile, Alabama, aware that he
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that it has appointed energy and technology industry veteran Doug Haugh as Chief Commercial Officer of Vertex Energy, effective April 17, 2023. In his new role, Doug will provide strategic direction for all commercial operations spanning from feedstock to finished products, driving the Company's growth initiatives. Doug brings over 25 years of experience to Vertex, leading growth strategies in retail convenience stores, fuels marketing, supply & trading, renewable products, lubricants, technology, and distribution sectors. Most recently,
8-K - Vertex Energy Inc. (0000890447) (Filer)
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Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced its operational and financial results for the second quarter of 2024. The Company also updated its progress in the optimization of its hydrocracking capacity between conventional production and renewables production. The Company will host a conference call to discuss second quarter 2024 results today, at 9:00 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. Highlights for the second quarter of 2024 and through the date of this press release include: Secured new $15
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its second quarter 2024 financial results before the market opens on Thursday, August 8, 2024. A conference call will be held that same day at 9:00 A.M. ET to review the Company's financial results and discuss recent events. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at www.vertexenergy.com. To listen to a live b
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced its operational and financial results for the first quarter of 2024. The Company also announced that it plans to optimize its hyrdrocracking capacity between conventional production and renewables production moving forward. The Company will host a conference call to discuss first quarter 2024 results today, at 9:00 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. Highlights for the first quarter of 2024 and through the date of this press release include: Continued
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its first quarter 2024 financial results before the market opens on Thursday, May 9, 2024. A conference call will be held that same day at 9:00 A.M. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at www.vert
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced its financial results for the fourth quarter ended December 31, 2023. The Company will host a conference call to discuss fourth quarter 2023 results today, at 8:30 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. FOURTH QUARTER 2023 HIGHLIGHTS Reported net loss attributable to the Company of ($63.9) million, or ($0.84) per fully-diluted share Reported Adjusted EBITDA of ($35.1) million (see "Non-GAAP Financial Measures and Key Performance Indicators", below). Continued safe oper
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its fourth quarter 2023 financial results before the market opens on Wednesday, February 28, 2024. A conference call will be held that same day at 8:30 A.M. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at
Conventional throughput volumes anticipated at approximately 67,000 bpd, vs. previously forecasted 68,000-71,000 bpd Expected fourth quarter finished product yield of 65%-67%, in line with previously forecasted range of 64%-68% Renewable throughput volumes anticipated at approximately 3,900 bpd, at the low end of previously forecasted 4,000-6,000 bpd Expected renewable production yield at approximately 96% vs. prior forecasted range of 97%-98% Average fourth quarter crack spreads on finished refined products declined 40% vs. third quarter average levels. Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced its financial results for the third quarter ended September 30, 2023. The Company will host a conference call to discuss third quarter 2023 results today, at 8:30 A.M. Eastern Time. Details regarding the conference call are included at the end of this release. THIRD QUARTER 2023 HIGHLIGHTS Reported net income attributable to common shareholders of $19.8 million, or $0.17 per fully-diluted share Reported Adjusted EBITDA of $51.5 million Continued safe operation of the Company's Mobile, Alabama refinery (the "Mobile Refinery") w
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced that it will report its third quarter 2023 financial results before the market opens on Tuesday, November 7, 2023. A conference call will be held that same day at 8:30 A.M. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. An audio webcast of the conference call and accompanying presentation materials (which will be available prior to the start of the conference call) will also be available in the "Events and Presentation" section of Vertex's website at www.
Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced its financial results for the second quarter ended June 30, 2023. The Company will host a conference call to discuss second quarter 2023 results today at 8:30 A.M. Eastern Time, details are included at the end of this release. SECOND QUARTER 2023 HIGHLIGHTS Reported net loss attributable to common shareholders of $(81.4) million, or $(1.03) per basic share Reported Adjusted EBITDA of $(34.2) million Continued safe operation of the Company's Mobile, Alabama refinery (the "Mobile Refinery") with second quarter 2023 conventional
Rhame has agreed to continue supporting Vertex in a consulting role through the end of 2024. Upon Rhame's retirement, Doug Haugh, Vertex's Chief Commercial Officer, will also assume the role of interim Chief Operating Officer.
Highlights include: Expected reductions in direct operating expense of 7% and capital expenditures of 29%, compared to previous guidance midpoints; Anticipated conventional throughput of 68,000 barrels per day (bpd), within guidance range of 68,000 to 72,000 bpd; and Renewable throughput and utilization in line with prior guidance, which took into account the Company's pause and pivot strategy.
The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. TOP SHIPS Inc (NYSE:TOPS) On May 2, TOP Ships announced commencement of time charter at very strong rate an increase of 36% over p
Vertex Energy (NASDAQ:VTNR) reported quarterly losses of $(0.19) per share which missed the analyst consensus estimate of $(0.13) by 46.15 percent. This is a 575 percent decrease over earnings of $0.04 per share from the same period last year. The company reported quarterly sales of $695.320 million which beat the analyst consensus estimate of $690.819 million by 0.65 percent. This is a 0.60 percent increase over sales of $691.142 million the same period last year.
Stifel analyst Michael Hoffman maintains Vertex Energy (NASDAQ:VTNR) with a Hold and maintains $4 price target.
Shares of Las Vegas Sands Corp. (NYSE:LVS) fell sharply during Thursday's session despite better-than-expected first-quarter results. The company reported quarterly adjusted earnings of 75 cents per share which beat the analyst consensus estimate of 62 cents and represented a 167.86% increase from the same period last year. Quarterly sales clocked in at $2.96 billion which beat the analyst consensus estimate of $2.94 billion and is a 39.58% increase over sales of $2.12 billion from the same quarter last year, according to data from Benzinga Pro. Las Vegas Sands shares dipped 6.8% to $46.81 on Thursday. Here are some other stocks moving in today’s mid-day session. Gainers AGBA
HC Wainwright & Co. analyst Amit Dayal maintains Vertex Energy (NASDAQ:VTNR) with a Buy and lowers the price target from $8 to $3.5.
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Craig Hallum downgraded Vertex Energy from Buy to Hold and set a new price target of $1.00
Northland Capital downgraded Vertex Energy from Outperform to Market Perform and set a new price target of $2.00
Stifel downgraded Vertex Energy from Buy to Hold and set a new price target of $4.00
Oppenheimer downgraded Vertex Energy from Outperform to Perform
TD Cowen initiated coverage of Vertex Energy with a rating of Market Perform and set a new price target of $8.00
Oppenheimer upgraded Vertex Energy from Perform to Outperform and set a new price target of $14.00
Northland Capital initiated coverage of Vertex Energy with a rating of Outperform and set a new price target of $15.00
UBS initiated coverage of Vertex Energy with a rating of Neutral and set a new price target of $6.90
Oppenheimer downgraded Vertex Energy from Outperform to Perform
Oppenheimer initiated coverage of Vertex Energy with a rating of Outperform and set a new price target of $18.00