Vitesse Energy, Inc. (NYSE:VTS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Vitesse Energy, with one sell, two hold and two buy recommendations. The average 12-month price target is $19.25.
• Vitesse shares opened at $17.20, compared with a 52-week range of $15.00 to $26.94. The company declared a quarterly dividend of $0.4375, equivalent to $1.75 annually and a 10.2% yield.
• Director Joseph S. Steinberg bought 40,882 shares, increasing his ownership by 60.46%; institutional investors own 51.63% of the company’s stock.

Shares of Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.25.

A number of research firms have recently commented on VTS. Wall Street Zen upgraded Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Vitesse Energy in a 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 objective on the stock in a research report on Thursday, July 23rd. Alliance Global Partners reiterated a "buy" rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Finally, Zacks Research downgraded shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st.

Vitesse Energy Stock Performance

Shares of Vitesse Energy stock opened at $17.20 on Friday. The business's fifty day simple moving average is $15.99 and its 200 day simple moving average is $17.83. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.25. Vitesse Energy has a 12 month low of $15.00 and a 12 month high of $26.94. The firm has a market capitalization of $724.12 million, a P/E ratio of -52.12 and a beta of 0.58.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Vitesse Energy's payout ratio is -530.30%.

Insider Buying and Selling

In other news, Director Joseph S. Steinberg acquired 40,882 shares of Vitesse Energy stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $16.16 per share, with a total value of $660,653.12. Following the completion of the acquisition, the director owned 108,500 shares in the company, valued at approximately $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.94% of the company's stock.

Institutional Trading of Vitesse Energy

Several hedge funds have recently made changes to their positions in VTS. California State Teachers Retirement System grew its stake in shares of Vitesse Energy by 1,556.6% during the 2nd quarter. California State Teachers Retirement System now owns 456,147 shares of the company's stock worth $7,193,000 after acquiring an additional 428,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Vitesse Energy by 2,499.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company's stock worth $9,757,000 after acquiring an additional 403,843 shares during the last quarter. Millennium Management LLC raised its stake in Vitesse Energy by 2,102.0% in the 3rd quarter. Millennium Management LLC now owns 204,350 shares of the company's stock valued at $4,747,000 after acquiring an additional 195,070 shares during the period. Punch & Associates Investment Management Inc. raised its stake in Vitesse Energy by 17.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company's stock valued at $29,572,000 after acquiring an additional 193,195 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Vitesse Energy by 585.0% during the fourth quarter. Renaissance Technologies LLC now owns 168,500 shares of the company's stock valued at $3,245,000 after purchasing an additional 143,900 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

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.

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