Vitesse Energy, Inc. (NYSE:VTS) Receives $19.25 Average Price Target from Analysts

Shares of Vitesse Energy, Inc. (NYSE:VTS) have earned an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.25.

Several brokerages have commented on VTS. Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research note on Thursday, July 23rd. Zacks Research downgraded Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a report on Tuesday, August 4th. Wall Street Zen upgraded Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Vitesse Energy in a research report on Monday, August 3rd.

Vitesse Energy Trading Up 2.3%

Shares of NYSE:VTS opened at $16.16 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $16.07 and its 200 day moving average price is $18.18. The company has a market cap of $680.34 million, a PE ratio of -48.97 and a beta of 0.58. Vitesse Energy has a fifty-two week low of $15.00 and a fifty-two week high of $27.15.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy’s payout ratio is currently -530.30%.

Insiders Place Their Bets

In related news, Director Joseph S. Steinberg acquired 40,882 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the acquisition, the director directly owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. The trade was a 60.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norris Financial Group LLC acquired a new stake in Vitesse Energy in the 1st quarter valued at about $1,394,000. Bank of America Corp DE grew its stake in shares of Vitesse Energy by 162.3% in the 1st quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after purchasing an additional 86,777 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Vitesse Energy by 78.9% in the 1st quarter. Quantinno Capital Management LP now owns 35,294 shares of the company’s stock worth $641,000 after purchasing an additional 15,562 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Vitesse Energy by 58.6% in the 1st quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock worth $4,990,000 after purchasing an additional 101,506 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Vitesse Energy in the 1st quarter worth approximately $188,000. 51.63% of the stock is owned by institutional investors and hedge funds.

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.