Vitesse Energy (NYSE:VTS) Director Joseph Steinberg Purchases 40,882 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg purchased 40,882 shares of Vitesse Energy stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $16.16 per share, with a total value of $660,653.12. Following the completion of the transaction, the director directly owned 108,500 shares in the company, valued at $1,753,360. The trade was a 60.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Vitesse Energy Stock Performance

VTS opened at $16.03 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a fifty day moving average price of $17.94 and a 200 day moving average price of $19.37. Vitesse Energy, Inc. has a 1 year low of $15.80 and a 1 year high of $27.15. The stock has a market cap of $668.40 million, a P/E ratio of -32.05 and a beta of 0.54.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Monday, June 15th. Vitesse Energy’s payout ratio is currently -350.00%.

Institutional Investors Weigh In On Vitesse Energy

A number of institutional investors have recently added to or reduced their stakes in VTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Vitesse Energy by 2,499.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company’s stock valued at $9,757,000 after acquiring an additional 403,843 shares during the period. Millennium Management LLC grew its stake in Vitesse Energy by 2,102.0% in the 3rd quarter. Millennium Management LLC now owns 204,350 shares of the company’s stock valued at $4,747,000 after acquiring an additional 195,070 shares during the period. Punch & Associates Investment Management Inc. grew its stake in Vitesse Energy by 17.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock valued at $29,572,000 after acquiring an additional 193,195 shares during the period. Renaissance Technologies LLC grew its stake in Vitesse Energy by 585.0% in the 4th quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock valued at $3,245,000 after acquiring an additional 143,900 shares during the period. Finally, First Trust Advisors LP boosted its stake in Vitesse Energy by 85.5% during the 4th quarter. First Trust Advisors LP now owns 252,248 shares of the company’s stock worth $4,858,000 after purchasing an additional 116,246 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analyst Upgrades and Downgrades

VTS has been the subject of several analyst reports. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. Weiss Ratings cut shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Northland Securities set a $20.00 target price on shares of Vitesse Energy in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

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.