Evercore ISI Has Lowered Expectations for Vitesse Energy (NYSE:VTS) Stock Price

Key Points

• Evercore ISI has reduced its price target for Vitesse Energy (NYSE: VTS) from $22.00 to $20.00, indicating a potential downside of 15.03% from the last close.
• Despite this downgrade, the consensus rating for Vitesse Energy remains a Moderate Buy with an average price target of $24.50, supported by a mix of buy, hold, and strong buy ratings from various analysts.
• Vitesse Energy reported strong earnings with $0.60 EPS in its last quarter, exceeding analyst estimates, and has seen significant increases in share ownership from institutional investors recently.

Vitesse Energy (NYSE:VTS - Get Free Report) had its price target decreased by equities researchers at Evercore ISI from $22.00 to $20.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price target indicates a potential downside of 15.03% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen raised shares of Vitesse Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Vitesse Energy in a report on Saturday, September 27th. Finally, Zacks Research raised Vitesse Energy to a "strong-buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Vitesse Energy Stock Up 0.5%

VTS stock opened at $23.54 on Monday. The firm has a market capitalization of $908.93 million, a PE ratio of 22.18 and a beta of 0.61. The stock's 50 day moving average is $24.91 and its 200-day moving average is $23.27. Vitesse Energy has a twelve month low of $18.90 and a twelve month high of $28.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16.

Vitesse Energy (NYSE:VTS - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.50. Vitesse Energy had a net margin of 15.12% and a return on equity of 7.25%. The firm had revenue of $81.76 million during the quarter, compared to analyst estimates of $69.78 million. Sell-side analysts expect that Vitesse Energy will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds have recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Vitesse Energy during the 1st quarter valued at about $25,000. Parallel Advisors LLC boosted its stake in shares of Vitesse Energy by 74.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,303 shares of the company's stock valued at $29,000 after purchasing an additional 557 shares in the last quarter. CWM LLC lifted its stake in Vitesse Energy by 138.8% in the second quarter. CWM LLC now owns 1,827 shares of the company's stock worth $40,000 after purchasing an additional 1,062 shares during the last quarter. Signaturefd LLC lifted its stake in Vitesse Energy by 415.7% in the second quarter. Signaturefd LLC now owns 2,393 shares of the company's stock worth $53,000 after purchasing an additional 1,929 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Vitesse Energy in the first quarter worth about $54,000. 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.

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