Vitesse Energy, Inc. (NYSE:VTS) Short Interest Down 24.6% in March

Vitesse Energy, Inc. (NYSE:VTS) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 2,140,000 shares, a decrease of 24.6% from the February 28th total of 2,840,000 shares. Currently, 8.7% of the shares of the company are sold short. Based on an average daily volume of 230,200 shares, the short-interest ratio is currently 9.3 days.

Wall Street Analysts Forecast Growth

VTS has been the topic of several analyst reports. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $26.00 to $29.00 in a report on Tuesday, December 17th. Northland Securities increased their price target on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Northland Capmk upgraded Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $28.00 target price on shares of Vitesse Energy in a research note on Wednesday, March 19th.

Vitesse Energy Trading Down 0.4 %

Shares of Vitesse Energy stock traded down $0.11 during mid-day trading on Monday, hitting $24.60. The stock had a trading volume of 314,636 shares, compared to its average volume of 192,312. The firm has a 50-day moving average of $25.42 and a two-hundred day moving average of $25.76. The firm has a market cap of $949.10 million, a P/E ratio of 16.85 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20. Vitesse Energy has a 12-month low of $21.83 and a 12-month high of $28.41.

Vitesse Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be given a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 9.15%. This is a positive change 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 Activity

In other Vitesse Energy news, VP Michael Sabol sold 6,714 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 63,411 shares of the company’s stock, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mike Morella sold 8,143 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total value of $217,336.67. Following the sale, the chief accounting officer now directly owns 81,615 shares in the company, valued at $2,178,304.35. This represents a 9.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.15% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VTS. Inlet Private Wealth LLC increased its position in shares of Vitesse Energy by 0.7% during the 4th quarter. Inlet Private Wealth LLC now owns 59,651 shares of the company’s stock worth $1,491,000 after purchasing an additional 400 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Vitesse Energy by 5.0% during the fourth quarter. Principal Financial Group Inc. now owns 8,784 shares of the company’s stock valued at $220,000 after acquiring an additional 418 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vitesse Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,232 shares of the company’s stock valued at $356,000 after acquiring an additional 497 shares during the period. Rhumbline Advisers raised its stake in shares of Vitesse Energy by 1.6% in the 4th quarter. Rhumbline Advisers now owns 41,929 shares of the company’s stock valued at $1,048,000 after acquiring an additional 660 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Vitesse Energy by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 241,761 shares of the company’s stock worth $5,807,000 after purchasing an additional 853 shares during the period. 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.