Brokerages Set Vitesse Energy, Inc. (NYSE:VTS) Price Target at $24.50

Vitesse Energy, Inc. (NYSE:VTS) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.50.

A number of research analysts have recently commented on the stock. Zacks Research downgraded shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Finally, Evercore ISI dropped their price objective on Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th.

Vitesse Energy Trading Up 1.1%

Shares of Vitesse Energy stock opened at $20.93 on Tuesday. Vitesse Energy has a 12-month low of $18.84 and a 12-month high of $27.17. The stock has a market cap of $809.36 million, a P/E ratio of 41.86 and a beta of 0.64. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $20.21 and its 200-day moving average is $22.43.

Vitesse Energy (NYSE:VTS) last released its earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.13). Vitesse Energy had a net margin of 7.70% and a return on equity of 5.71%. The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.70 million. Equities research analysts predict that Vitesse Energy will post 1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vitesse Energy news, CAO Mike Morella sold 5,202 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $20.13, for a total value of $104,716.26. Following the transaction, the chief accounting officer directly owned 82,413 shares in the company, valued at $1,658,973.69. The trade was a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert W. Gerrity sold 36,785 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $19.66, for a total transaction of $723,193.10. Following the completion of the transaction, the chief executive officer directly owned 371,991 shares in the company, valued at $7,313,343.06. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 341,808 shares of company stock worth $6,758,540 in the last quarter. Insiders own 18.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Vitesse Energy by 20.0% in the second quarter. American Century Companies Inc. now owns 845,848 shares of the company’s stock valued at $18,685,000 after acquiring an additional 140,768 shares in the last quarter. Wedbush Securities Inc. bought a new stake in Vitesse Energy in the 2nd quarter valued at about $291,000. First Wilshire Securities Management Inc. grew its position in shares of Vitesse Energy by 539.7% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 223,754 shares of the company’s stock worth $4,943,000 after purchasing an additional 188,774 shares in the last quarter. Signaturefd LLC grew its position in shares of Vitesse Energy by 415.7% during the 2nd quarter. Signaturefd LLC now owns 2,393 shares of the company’s stock worth $53,000 after purchasing an additional 1,929 shares in the last quarter. Finally, GoodHaven Capital Management LLC increased its holdings in shares of Vitesse Energy by 2.7% during the second quarter. GoodHaven Capital Management LLC now owns 552,151 shares of the company’s stock worth $12,197,000 after purchasing an additional 14,300 shares during the period. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.