Vitesse Energy, Inc. (NYSE:VTS) Given Average Recommendation of “Hold” by Brokerages

Vitesse Energy, Inc. (NYSE:VTS) has been given an average rating of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.25.

VTS has been the topic of several recent analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Vitesse Energy in a research report on Tuesday. Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 target price on the stock in a report on Thursday, July 23rd. Zacks Research cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings lowered Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th.

Vitesse Energy Stock Performance

Shares of VTS stock traded up $0.02 during midday trading on Tuesday, hitting $15.54. The company had a trading volume of 474,252 shares, compared to its average volume of 509,112. The company’s 50 day simple moving average is $16.22 and its 200 day simple moving average is $18.31. Vitesse Energy has a 52-week low of $15.00 and a 52-week high of $27.15. 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 stock has a market cap of $648.17 million, a price-to-earnings ratio of -31.02 and a beta of 0.58.

Vitesse Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy’s payout ratio is presently -350.00%.

Insider Transactions at Vitesse Energy

In other news, Director Joseph S. Steinberg purchased 40,882 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $16.16 per share, with a total value of $660,653.12. Following the purchase, the director owned 108,500 shares in the company, valued at $1,753,360. This represents a 60.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. boosted its stake in 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 acquiring an additional 165,534 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Vitesse Energy by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock valued at $27,363,000 after purchasing an additional 69,477 shares in the last quarter. State Street Corp grew its stake in Vitesse Energy by 3.3% in the fourth quarter. State Street Corp now owns 1,015,971 shares of the company’s stock valued at $19,568,000 after purchasing an additional 32,790 shares in the last quarter. Geode Capital Management LLC increased its holdings in Vitesse Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock worth $13,536,000 after buying an additional 3,364 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 403,843 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.