Vitesse Energy (NYSE:VTS) Sets New 1-Year High – Still a Buy?

Vitesse Energy, Inc. (NYSE:VTS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $26.94 and last traded at $26.94, with a volume of 3634 shares changing hands. The stock had previously closed at $26.26.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners cut shares of Vitesse Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a research report on Wednesday.

Vitesse Energy Price Performance

The firm has a market capitalization of $806.64 million, a PE ratio of 17.99 and a beta of 0.22. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $24.90 and a two-hundred day moving average price of $24.51.

Vitesse Energy (NYSE:VTS) last announced its earnings results on Monday, August 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $66.60 million during the quarter, compared to analyst estimates of $63.89 million. Vitesse Energy had a net margin of 18.05% and a return on equity of 7.22%.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.67%. The ex-dividend date is Monday, December 16th. Vitesse Energy’s dividend payout ratio is presently 143.84%.

Insider Transactions at Vitesse Energy

In other news, CEO Robert W. Gerrity bought 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $24.73 per share, for a total transaction of $247,300.00. Following the completion of the transaction, the chief executive officer now owns 495,311 shares in the company, valued at $12,249,041.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Vitesse Energy by 18.8% during the second quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock worth $21,587,000 after purchasing an additional 144,166 shares during the last quarter. LSV Asset Management raised its position in Vitesse Energy by 2.2% in the second quarter. LSV Asset Management now owns 388,397 shares of the company’s stock valued at $9,205,000 after purchasing an additional 8,185 shares during the period. Cove Street Capital LLC lifted its stake in shares of Vitesse Energy by 26.3% during the first quarter. Cove Street Capital LLC now owns 351,365 shares of the company’s stock worth $8,338,000 after purchasing an additional 73,102 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Vitesse Energy by 267.2% in the second quarter. American Century Companies Inc. now owns 285,613 shares of the company’s stock worth $6,769,000 after buying an additional 207,831 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Vitesse Energy by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 277,465 shares of the company’s stock valued at $6,576,000 after buying an additional 7,513 shares in the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

About Vitesse Energy

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.