Vitesse Energy (NYSE:VTS) Upgraded at Zacks Research

Zacks Research upgraded shares of Vitesse Energy (NYSE:VTS) from a strong sell rating to a hold rating in a research note published on Monday,Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Citigroup reiterated an “outperform” rating on shares of Vitesse Energy in a report on Thursday, September 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Vitesse Energy in a research report on Monday, August 3rd. Northland Securities set a $20.50 price target on Vitesse Energy in a research note on Thursday, September 17th. Finally, Wall Street Zen upgraded Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Vitesse Energy Stock Up 0.3%

Shares of NYSE:VTS opened at $17.01 on Monday. The company has a market capitalization of $715.95 million, a price-to-earnings ratio of -51.53 and a beta of 0.60. Vitesse Energy has a 12-month low of $15.00 and a 12-month high of $23.49. The business has a 50-day moving average price of $16.97 and a 200 day moving average price of $17.18. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.25.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.4375 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.75 annualized dividend and a yield of 10.3%. Vitesse Energy’s dividend payout ratio is -530.30%.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. increased its stake in shares of Vitesse Energy by 13.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock worth $27,706,000 after buying an additional 165,534 shares during the period. Lee Danner & Bass Inc. grew its holdings in Vitesse Energy by 48.4% during the 1st quarter. Lee Danner & Bass Inc. now owns 346,470 shares of the company’s stock worth $6,292,000 after acquiring an additional 113,000 shares in the last quarter. First Trust Advisors LP grew its holdings in Vitesse Energy by 33.9% during the 1st quarter. First Trust Advisors LP now owns 337,885 shares of the company’s stock worth $6,136,000 after acquiring an additional 85,637 shares in the last quarter. Gabelli Funds LLC increased its position 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 valued at $4,990,000 after purchasing an additional 101,506 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its holdings in shares of Vitesse Energy by 4.9% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 162,206 shares of the company’s stock valued at $2,558,000 after purchasing an additional 7,601 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy, Inc is an oil and gas company that owns non-operated working interests and mineral interests in wells drilled and operated by other exploration and production companies. Rather than managing drilling operations directly, Vitesse provides capital to acquire interests in producing and development-stage properties while relying on its operating partners to handle drilling, completion, production and field operations.

The company’s portfolio is focused primarily on U.S. oil-producing regions, including the Williston Basin and other major onshore basins.