Bank of America Corp DE Boosts Holdings in Vitesse Energy, Inc. $VTS

Key Points

• Bank of America increased its Vitesse Energy stake by 162.3% in the first quarter, owning 140,256 shares valued at approximately $2.55 million. Institutional investors collectively own 51.63% of the company.
• Vitesse Energy declared a quarterly dividend of $0.4375 per share, or $1.75 annually, representing a 10.0% yield based on the reported share price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $19.25 versus the stock’s reported opening price of $17.50. Director Joseph S. Steinberg also purchased 40,882 shares, increasing his ownership by 60.46%.

Bank of America Corp DE raised its stake in Vitesse Energy, Inc. (NYSE:VTS - Free Report) by 162.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,256 shares of the company's stock after acquiring an additional 86,777 shares during the quarter. Bank of America Corp DE owned approximately 0.34% of Vitesse Energy worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP lifted its stake in Vitesse Energy by 78.9% in the first quarter. Quantinno Capital Management LP now owns 35,294 shares of the company's stock valued at $641,000 after purchasing an additional 15,562 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Vitesse Energy by 58.6% during the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company's stock valued at $4,990,000 after purchasing an additional 101,506 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Vitesse Energy during the first quarter worth about $188,000. Lido Advisors LLC bought a new position in Vitesse Energy during the first quarter worth about $183,000. Finally, Militia Capital Management LLC purchased a new position in shares of Vitesse Energy in the first quarter worth about $1,046,000. 51.63% of the stock is owned by institutional investors.

Vitesse Energy Stock Performance

Shares of VTS stock opened at $17.50 on Tuesday. The company has a market capitalization of $736.75 million, a P/E ratio of -53.03 and a beta of 0.58. Vitesse Energy, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $26.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $16.02 and a two-hundred day moving average price of $17.77.

Vitesse Energy Dividend Announcement

The company also recently announced 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. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy's dividend payout ratio is currently -530.30%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Vitesse Energy in a report on Monday, August 3rd. Alliance Global Partners reiterated a "buy" rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Northland Securities upgraded 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 research report on Thursday, July 23rd. Finally, Wall Street Zen raised Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $19.25.

Insider Buying and Selling at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg bought 40,882 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were bought 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.94% of the company's stock.

Vitesse Energy Profile

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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