Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.00 and last traded at $15.0160, with a volume of 443797 shares. The stock had previously closed at $15.24.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VTS shares. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. 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 report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Vitesse Energy presently has an average rating of “Hold” and an average price target of $19.25.

Vitesse Energy Stock Down 1.5%

The stock has a 50 day moving average price of $16.51 and a 200 day moving average price of $18.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $626.35 million, a P/E ratio of -30.03 and a beta of 0.57.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.4375 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.75 annualized dividend and a yield of 11.7%. Vitesse Energy’s payout ratio is currently -350.00%.

Insider Buying and Selling

In related news, Director Joseph S. Steinberg bought 40,882 shares of the company’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the purchase, the director directly owned 108,500 shares in the company, valued at $1,753,360. The trade was a 60.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 13.94% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Several large investors have recently modified their holdings of VTS. Lee Danner & Bass Inc. raised its holdings in shares of Vitesse Energy by 81.7% in the 4th quarter. Lee Danner & Bass Inc. now owns 233,470 shares of the company’s stock worth $4,497,000 after purchasing an additional 104,990 shares during the period. Gabelli Funds LLC grew its holdings in Vitesse Energy by 58.6% during the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock valued at $4,990,000 after purchasing an additional 101,506 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Vitesse Energy in the fourth quarter worth $869,000. North Star Investment Management Corp. increased its position in Vitesse Energy by 230.9% in the first quarter. North Star Investment Management Corp. now owns 135,054 shares of the company’s stock worth $2,453,000 after buying an additional 94,244 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Vitesse Energy by 13.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock valued at $27,706,000 after buying an additional 165,534 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

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.