Gabelli Funds LLC Raises Holdings in Vitesse Energy, Inc. $VTS

Gabelli Funds LLC increased its position in Vitesse Energy, Inc. (NYSE:VTS) by 58.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,804 shares of the company’s stock after buying an additional 101,506 shares during the period. Gabelli Funds LLC owned 0.66% of Vitesse Energy worth $4,990,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted 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 last quarter. Strs Ohio bought a new stake in Vitesse Energy in the first quarter worth $54,000. Osaic Holdings Inc. raised its stake in Vitesse Energy by 43.5% during the second 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 lifted its position in Vitesse Energy by 179.6% during the second 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 during the last quarter. Finally, Daytona Street Capital LLC bought a new position in Vitesse Energy during the fourth quarter valued at $154,000. Institutional investors own 51.63% of the company’s stock.

Analysts Set New Price Targets

VTS has been the topic of a number of research reports. Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Northland Securities raised Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price objective on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings downgraded Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.25.

Insider Activity at Vitesse Energy

In related news, Director Joseph S. Steinberg purchased 59,118 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the purchase, the director owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. The trade was a 4,122.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 13.94% of the company’s stock.

Vitesse Energy Trading Down 3.7%

VTS stock opened at $15.22 on Tuesday. Vitesse Energy, Inc. has a 12 month low of $15.01 and a 12 month high of $27.15. The firm’s 50-day moving average is $16.51 and its 200 day moving average is $18.45. The company has a market capitalization of $634.78 million, a PE ratio of -30.44 and a beta of 0.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

Vitesse Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.5%. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

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.