Vitesse Energy (NYSE:VTS) Shares Down 4.4% – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS) shares were down 4.4% on Wednesday . The company traded as low as $17.75 and last traded at $17.7170. 50,460 shares were traded during mid-day trading, a decline of 90% from the average session volume of 507,439 shares. The stock had previously closed at $18.53.

Analyst Ratings Changes

Several brokerages recently weighed in on VTS. Alliance Global Partners reaffirmed a “buy” rating on shares of Vitesse Energy in a research report on Tuesday, August 4th. Zacks Research downgraded Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Vitesse Energy in a research note on Monday, August 3rd. Northland Securities set a $20.50 price objective on Vitesse Energy in a report on Thursday. Finally, Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.25.

Vitesse Energy Stock Performance

The stock’s 50 day moving average price is $16.62 and its 200 day moving average price is $17.43. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.25. The firm has a market cap of $746.85 million, a PE ratio of -53.76 and a beta of 0.60.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.75 annualized dividend and a yield of 9.9%. Vitesse Energy’s dividend payout ratio (DPR) is -530.30%.

Institutional Investors Weigh In On Vitesse Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Vitesse Energy during the second quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Vitesse Energy by 359.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after purchasing an additional 2,307 shares during the period. Lido Advisors LLC purchased a new position in shares of Vitesse Energy in the first quarter valued at $183,000. Arrowstreet Capital Limited Partnership acquired a new stake in Vitesse Energy during the 1st quarter valued at $188,000. Finally, MQS Management LLC acquired a new stake in Vitesse Energy during the 4th quarter valued at $296,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Vitesse Energy Company Profile

Vitesse Energy, Inc (NYSE:VTS) is an independent energy company that invests in non-operated working interests and mineral and royalty interests in oil and natural gas properties. Rather than drilling and operating wells itself, the company partners with third-party exploration and production companies, allowing it to participate in production while relying on those operators to manage development and day-to-day operations.

The company’s portfolio is focused primarily on U.S. onshore oil and natural gas assets, including properties in regions such as the Bakken and Three Forks formations in North Dakota and other established producing basins.