Punch & Associates Investment Management Inc. Cuts Stock Holdings in Vitesse Energy, Inc. $VTS

Punch & Associates Investment Management Inc. lessened its position in Vitesse Energy, Inc. (NYSE:VTS) by 7.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,333,720 shares of the company’s stock after selling 104,809 shares during the quarter. Vitesse Energy makes up about 1.4% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 20th largest holding. Punch & Associates Investment Management Inc.’s holdings in Vitesse Energy were worth $24,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Vitesse Energy by 48.3% during the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock worth $888,000 after purchasing an additional 11,747 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Vitesse Energy by 29.7% in the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after purchasing an additional 5,002 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Vitesse Energy by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock worth $376,000 after purchasing an additional 1,065 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Vitesse Energy by 241.7% during the first quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock worth $4,415,000 after buying an additional 126,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Vitesse Energy by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock valued at $5,012,000 after buying an additional 9,943 shares during the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research report on Thursday. Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Vitesse Energy presently has a consensus rating of “Hold” and an average target price of $19.25.

Vitesse Energy Trading Down 1.0%

Shares of VTS stock opened at $15.77 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. Vitesse Energy, Inc. has a twelve month low of $15.01 and a twelve month high of $27.15. The company’s 50-day moving average price is $16.57 and its 200-day moving average price is $18.49. The stock has a market cap of $657.81 million, a price-to-earnings ratio of -31.54 and a beta of 0.57.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 11.1%. Vitesse Energy’s payout ratio is -350.00%.

Insiders Place Their Bets

In other news, Director Joseph S. Steinberg bought 59,118 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the acquisition, the director directly owned 60,552 shares of the company’s stock, valued at $1,029,384. This trade represents a 4,122.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 13.94% of the stock is owned by insiders.

Vitesse Energy Company Profile

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.