Vitesse Energy (NYSE:VTS) Hits New 12-Month Low – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.90 and last traded at $21.35, with a volume of 772979 shares traded. The stock had previously closed at $19.69.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VTS shares. Evercore ISI reissued an “in-line” rating and issued a $28.00 target price on shares of Vitesse Energy in a research report on Wednesday, March 19th. 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 research report on Tuesday, December 17th. Northland Securities raised their target price on Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Roth Mkm lifted their price objective on Vitesse Energy from $30.50 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $30.25.

Vitesse Energy Trading Up 8.4 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $823.64 million, a PE ratio of 14.62 and a beta of 0.56. The stock has a 50-day moving average price of $24.65 and a two-hundred day moving average price of $25.58.

Vitesse Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 21st were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 10.54%. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. Vitesse Energy’s dividend payout ratio (DPR) is 351.56%.

Insider Activity at Vitesse Energy

In related news, CAO Mike Morella sold 8,143 shares of Vitesse Energy stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total transaction of $217,336.67. Following the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. This trade represents a 9.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. 18.15% of the stock is owned by corporate insiders.

Institutional Trading of Vitesse Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Vitesse Energy in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in Vitesse Energy in the 3rd quarter worth approximately $78,000. R Squared Ltd bought a new stake in Vitesse Energy in the 4th quarter worth approximately $79,000. KLP Kapitalforvaltning AS bought a new stake in Vitesse Energy in the 4th quarter worth approximately $104,000. Finally, GAMMA Investing LLC increased its stake in Vitesse Energy by 2,023.8% in the 1st quarter. GAMMA Investing LLC now owns 6,074 shares of the company’s stock worth $149,000 after acquiring an additional 5,788 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

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.