Merrion Investment Management Co LLC Has $1.93 Million Stock Position in Vitesse Energy, Inc. $VTS

Merrion Investment Management Co LLC reduced its stake in shares of Vitesse Energy, Inc. (NYSE:VTS) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 87,571 shares of the company’s stock after selling 10,279 shares during the period. Vitesse Energy makes up approximately 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 22nd biggest holding. Merrion Investment Management Co LLC’s holdings in Vitesse Energy were worth $1,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VTS. Sprinkle Financial Consultants LLC bought a new position in Vitesse Energy during the 2nd quarter worth about $281,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Vitesse Energy during the first quarter worth about $98,000. Principal Financial Group Inc. grew its holdings in shares of Vitesse Energy by 5.4% during the first quarter. Principal Financial Group Inc. now owns 9,260 shares of the company’s stock worth $228,000 after buying an additional 476 shares in the last quarter. Russell Investments Group Ltd. raised its position in Vitesse Energy by 9.6% in the 1st quarter. Russell Investments Group Ltd. now owns 99,591 shares of the company’s stock valued at $2,449,000 after buying an additional 8,738 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Vitesse Energy by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,515,479 shares of the company’s stock valued at $61,856,000 after buying an additional 60,476 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings downgraded Vitesse Energy from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday. Evercore ISI reduced their target price on shares of Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating for the company in a report on Monday, October 6th. Zacks Research lowered shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.50.

Vitesse Energy Price Performance

Shares of VTS opened at $21.11 on Friday. The firm has a market capitalization of $816.44 million, a PE ratio of 42.23 and a beta of 0.59. The company’s 50-day moving average is $23.27 and its 200-day moving average is $23.24. Vitesse Energy, Inc. has a fifty-two week low of $18.90 and a fifty-two week high of $28.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.95.

Vitesse Energy (NYSE:VTS) last announced its earnings results on Monday, November 3rd. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.13). Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%.The company had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.70 million. Equities analysts forecast that Vitesse Energy, Inc. will post 1.05 EPS for the current year.

Vitesse Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Monday, December 15th. Vitesse Energy’s payout ratio is currently 450.00%.

Vitesse Energy Profile

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.