Insider Buying: Vitesse Energy (NYSE:VTS) Director Buys 40,882 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg bought 40,882 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the acquisition, the director owned 108,500 shares in the company, valued at $1,753,360. This represents a 60.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Vitesse Energy Stock Up 0.1%

VTS stock traded up $0.02 during midday trading on Wednesday, reaching $16.03. 543,676 shares of the company’s stock traded hands, compared to its average volume of 508,221. The company has a market cap of $668.40 million, a price-to-earnings ratio of -32.05 and a beta of 0.54. The firm’s fifty day moving average price is $17.99 and its 200-day moving average price is $19.40. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. Vitesse Energy, Inc. has a 52 week low of $15.80 and a 52 week high of $27.15.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is currently -350.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Northland Securities set a $20.00 price objective on Vitesse Energy in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Vitesse Energy currently has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. increased its stake in Vitesse Energy by 13.0% in the 4th 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 69,477 shares in the last quarter. State Street Corp increased its position in shares of Vitesse Energy by 3.3% during the fourth quarter. State Street Corp now owns 1,015,971 shares of the company’s stock valued at $19,568,000 after acquiring an additional 32,790 shares during the last quarter. American Century Companies Inc. boosted its position in Vitesse Energy by 12.9% in the third quarter. American Century Companies Inc. now owns 954,590 shares of the company’s stock worth $22,175,000 after purchasing an additional 108,742 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Vitesse Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock worth $13,536,000 after purchasing an additional 3,364 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

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.