Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – Here’s Why

Vitesse Energy, Inc. (NYSE:VTS)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $17.01 and last traded at $17.3150, with a volume of 47996 shares trading hands. The stock had previously closed at $17.40.

Analysts Set New Price Targets

Several research firms recently weighed in on VTS. Northland Securities set a $20.00 price objective on Vitesse Energy in a research note on Wednesday, May 6th. Weiss Ratings lowered Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Vitesse Energy has an average rating of “Hold” and a consensus target price of $20.00.

Vitesse Energy Stock Up 1.6%

The firm has a 50 day moving average of $18.34 and a two-hundred day moving average of $19.74. The firm has a market capitalization of $720.33 million, a price-to-earnings ratio of -34.54 and a beta of 0.62. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25.

Vitesse Energy (NYSE:VTS) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. The firm had revenue of $67.41 million for the quarter, compared to analyst estimates of $66.71 million. As a group, sell-side analysts anticipate that Vitesse Energy, Inc. will post -0.75 EPS for the current fiscal year.

Vitesse Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 annualized dividend and a dividend yield of 10.1%. Vitesse Energy’s dividend payout ratio is currently -350.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. increased its stake in shares of Vitesse Energy by 13.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock valued at $27,706,000 after buying an additional 165,534 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Vitesse Energy by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock valued at $27,363,000 after buying an additional 69,477 shares during the period. State Street Corp increased its stake in shares of Vitesse Energy by 3.3% in the fourth quarter. State Street Corp now owns 1,015,971 shares of the company’s stock valued at $19,568,000 after buying an additional 32,790 shares during the period. American Century Companies Inc. increased its stake in shares of Vitesse Energy by 12.9% in the third quarter. American Century Companies Inc. now owns 954,590 shares of the company’s stock valued at $22,175,000 after buying an additional 108,742 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Vitesse Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock valued at $13,536,000 after buying an additional 3,364 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.