Vitesse Energy (NYSE:VTS) Sees Large Volume Increase – What’s Next?

Shares of Vitesse Energy, Inc. (NYSE:VTS) saw unusually-high trading volume on Monday . Approximately 155,023 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 183,235 shares.The stock last traded at $23.99 and had previously closed at $22.89.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VTS. Evercore ISI restated an “in-line” rating and issued a $28.00 price objective on shares of Vitesse Energy in a report on Wednesday, March 19th. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Northland Securities increased their target price on Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th.

Vitesse Energy Trading Down 0.2 %

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $944.00 million, a P/E ratio of 16.76 and a beta of 0.53. The company has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $25.74.

Vitesse Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 9.19%. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, March 21st. Vitesse Energy’s dividend payout ratio is presently 351.56%.

Insider Buying and Selling at Vitesse Energy

In other news, CAO Mike Morella sold 8,143 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total transaction of $217,336.67. Following the completion of the transaction, the chief accounting officer now directly owns 81,615 shares of the company’s stock, valued at $2,178,304.35. This represents a 9.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total value of $179,263.80. Following the completion of the sale, the vice president now directly owns 63,411 shares in the company, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Vitesse Energy during the 4th quarter worth about $29,000. Quest Partners LLC acquired a new position in Vitesse Energy during the third quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in Vitesse Energy during the third quarter valued at approximately $78,000. R Squared Ltd bought a new position in Vitesse Energy in the fourth quarter valued at approximately $79,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Vitesse Energy during the 4th quarter worth approximately $104,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Vitesse Energy Company Profile

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.