Zacks Research Upgrades Vitesse Energy (NYSE:VTS) to “Hold”

Vitesse Energy (NYSE:VTS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. Alliance Global Partners restated a “buy” rating on shares of Vitesse Energy in a report on Tuesday, August 4th. Northland Securities set a $20.50 price target on Vitesse Energy in a research report on Thursday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vitesse Energy in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Vitesse Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a research report on Thursday, September 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Vitesse Energy has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Vitesse Energy Stock Performance

Shares of Vitesse Energy stock opened at $16.95 on Monday. The business has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $17.20. Vitesse Energy has a one year low of $15.00 and a one year high of $23.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $713.45 million, a price-to-earnings ratio of -51.35 and a beta of 0.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VTS. Versant Capital Management Inc increased its stake in Vitesse Energy by 3,545.7% in the third quarter. Versant Capital Management Inc now owns 2,552 shares of the company’s stock valued at $43,000 after acquiring an additional 2,482 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Vitesse Energy during the 2nd quarter valued at about $30,000. Squarepoint Ops LLC increased its position in shares of Vitesse Energy by 25.3% during the 2nd quarter. Squarepoint Ops LLC now owns 21,418 shares of the company’s stock valued at $338,000 after purchasing an additional 4,326 shares during the last quarter. Mraz Amerine & Associates Inc. raised its holdings in shares of Vitesse Energy by 4.9% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 162,206 shares of the company’s stock valued at $2,558,000 after buying an additional 7,601 shares in the last quarter. Finally, Corient Private Wealth LP bought a new stake in Vitesse Energy in the 2nd quarter worth approximately $928,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy, Inc is an oil and gas company that owns non-operated working interests and mineral interests in wells drilled and operated by other exploration and production companies. Rather than managing drilling operations directly, Vitesse provides capital to acquire interests in producing and development-stage properties while relying on its operating partners to handle drilling, completion, production and field operations.

The company’s portfolio is focused primarily on U.S. oil-producing regions, including the Williston Basin and other major onshore basins.