Vitesse Energy (NYSE:VTS) Cut to Strong Sell at Zacks Research

Vitesse Energy (NYSE:VTS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on VTS. Weiss Ratings cut Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Finally, Northland Securities set a $20.00 price target on Vitesse Energy in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vitesse Energy currently has an average rating of “Reduce” and an average price target of $20.00.

Vitesse Energy Trading Down 1.4%

NYSE:VTS opened at $15.49 on Wednesday. The stock has a market capitalization of $646.30 million, a price-to-earnings ratio of -30.99 and a beta of 0.57. Vitesse Energy has a 52 week low of $15.42 and a 52 week high of $27.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $17.43 and a 200 day moving average of $18.92.

Insider Buying and Selling

In other news, Director Joseph S. Steinberg bought 40,882 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $16.16 per share, with a total value of $660,653.12. Following the acquisition, the director directly owned 108,500 shares in the company, valued at $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.94% of the company’s stock.

Institutional Trading of Vitesse Energy

A number of hedge funds have recently added to or reduced their stakes in VTS. Strs Ohio purchased a new position in Vitesse Energy in the first quarter valued at $54,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Vitesse Energy by 359.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after acquiring an additional 2,307 shares during the period. Osaic Holdings Inc. increased its stake in shares of Vitesse Energy by 43.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after purchasing an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Vitesse Energy by 179.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after purchasing an additional 2,432 shares in the last quarter. Finally, Daytona Street Capital LLC purchased a new position in shares of Vitesse Energy in the 4th quarter valued at about $154,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

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.