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

Vitesse Energy, Inc. (NYSE:VTS) shares gapped down before the market opened on Tuesday. The stock had previously closed at $17.24, but opened at $16.37. Vitesse Energy shares last traded at $16.1020, with a volume of 112,909 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Vitesse Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a report on Thursday, September 17th. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a report on Tuesday, August 4th. Northland Securities set a $20.50 target price on Vitesse Energy in a research report on Thursday, September 17th. Finally, Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.50.

Vitesse Energy Trading Down 6.9%

The company has a market capitalization of $675.77 million, a P/E ratio of -48.59 and a beta of 0.60. The stock has a 50 day moving average of $17.56 and a 200-day moving average of $17.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.25.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $82.95 million for the quarter, compared to analysts’ expectations of $76.97 million. Vitesse Energy had a negative return on equity of 0.02% and a negative net margin of 3.95%. On average, research analysts predict that Vitesse Energy, Inc. will post -1.11 EPS for the current year.

Vitesse Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.75 annualized dividend and a yield of 10.9%. Vitesse Energy’s dividend payout ratio (DPR) is -530.30%.

Hedge Funds Weigh In On Vitesse Energy

A number of hedge funds have recently added to or reduced their stakes in VTS. First Trust Advisors LP grew its stake in shares of Vitesse Energy by 33.9% in the 1st quarter. First Trust Advisors LP now owns 337,885 shares of the company’s stock valued at $6,136,000 after buying an additional 85,637 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Vitesse Energy by 58.6% in the 1st 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 in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in shares of Vitesse Energy by 1.7% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 165,002 shares of the company’s stock valued at $2,756,000 after buying an additional 2,796 shares in the last quarter. Bank of America Corp DE grew its position in Vitesse Energy by 162.3% during the first quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after buying an additional 86,777 shares in the last quarter. Finally, Norris Financial Group LLC purchased a new stake in Vitesse Energy during the first quarter valued at $1,394,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy, Inc is an independent energy company focused on owning non-operated interests in oil and natural gas wells. Rather than serving as the primary operator, Vitesse invests alongside exploration and production companies, allowing it to participate in well production while relying on operating partners to manage drilling and field activities.

The company’s portfolio is weighted toward oil-producing assets in the Williston Basin, including the Bakken and Three Forks formations in North Dakota and Montana.