Joseph Steinberg Acquires 59,118 Shares of Vitesse Energy (NYSE:VTS) Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg acquired 59,118 shares of Vitesse Energy stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the purchase, the director owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. This represents a 4,122.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Vitesse Energy Stock Performance

VTS opened at $18.24 on Wednesday. The stock has a market capitalization of $760.92 million, a price-to-earnings ratio of -36.49 and a beta of 0.54. The company has a fifty day moving average of $18.27 and a 200 day moving average of $19.68. Vitesse Energy, Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01). Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. The business had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.71 million. As a group, sell-side analysts forecast that Vitesse Energy, Inc. will post -0.75 earnings per share for the current fiscal year.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 9.6%. The ex-dividend date is Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VTS shares. Northland Securities set a $20.00 price objective on shares of Vitesse Energy in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings lowered shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Vitesse Energy by 203.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock worth $43,000 after purchasing an additional 1,187 shares in the last quarter. Strs Ohio acquired a new stake in Vitesse Energy in the 1st quarter worth approximately $54,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Vitesse Energy by 359.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock worth $54,000 after purchasing an additional 2,307 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Vitesse Energy by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after purchasing an additional 1,069 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Vitesse Energy by 179.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after purchasing an additional 2,432 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy (NYSE: VTS) is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.