Vitesse Energy, Inc. (NYSE:VTS) Receives Average Recommendation of “Hold” from Brokerages

Vitesse Energy, Inc. (NYSE:VTS) has earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $19.25.

A number of research analysts have weighed in on VTS shares. Zacks Research lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Vitesse Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Vitesse Energy in a research report on Monday, August 3rd. Northland Securities raised shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price target for the company in a report on Thursday, July 23rd. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Vitesse Energy in a report on Tuesday, August 4th.

Vitesse Energy Trading Up 2.1%

Shares of VTS stock opened at $17.77 on Friday. The stock has a market capitalization of $748.12 million, a price-to-earnings ratio of -53.85 and a beta of 0.60. The company’s fifty day simple moving average is $16.16 and its two-hundred day simple moving average is $17.68. Vitesse Energy has a 1 year low of $15.00 and a 1 year high of $26.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.75 annualized dividend and a dividend yield of 9.8%. Vitesse Energy’s payout ratio is presently -530.30%.

Insider Buying and Selling at Vitesse Energy

In related news, Director Joseph Steinberg bought 40,882 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $16.16 per share, with a total value of $660,653.12. Following the completion of the purchase, the director directly owned 108,500 shares of the company’s stock, valued at $1,753,360. This trade represents a 60.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Vitesse Energy by 359.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after purchasing an additional 2,307 shares during the last quarter. Strs Ohio purchased a new stake in Vitesse Energy in the first quarter worth approximately $54,000. Osaic Holdings Inc. grew its position in Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after acquiring an additional 1,069 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after acquiring an additional 2,432 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vitesse Energy by 51.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the company’s stock worth $182,000 after acquiring an additional 3,199 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy (NYSE: VTS) is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.