First Manhattan CO. LLC. Buys Shares of 20,929 Vitesse Energy, Inc. $VTS

Key Points

• First Manhattan CO. LLC. has acquired a new stake in Vitesse Energy, purchasing 20,929 shares valued at approximately $515,000.
• Vitesse Energy has received positive analyst ratings, with the company being upgraded to a "strong-buy" by Zacks Research and achieving a consensus price target of $26.50.
• The firm declared a $0.5625 quarterly dividend, equating to an annualized yield of 8.7%, with an ex-dividend date set for September 15th.

First Manhattan CO. LLC. bought a new stake in Vitesse Energy, Inc. (NYSE:VTS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,929 shares of the company's stock, valued at approximately $515,000. First Manhattan CO. LLC. owned about 0.05% of Vitesse Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VTS. SouthState Corp acquired a new stake in Vitesse Energy during the 1st quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Vitesse Energy in the 1st quarter valued at $98,000. GAMMA Investing LLC grew its holdings in shares of Vitesse Energy by 2,023.8% in the 1st quarter. GAMMA Investing LLC now owns 6,074 shares of the company's stock valued at $149,000 after buying an additional 5,788 shares during the period. BNP Paribas Financial Markets bought a new stake in Vitesse Energy in the 4th quarter valued at $162,000. Finally, MMCAP International Inc. SPC bought a new stake in Vitesse Energy in the 1st quarter valued at $167,000. Institutional investors and hedge funds own 51.63% of the company's stock.

Vitesse Energy Trading Up 1.1%

Shares of VTS stock traded up $0.27 during trading hours on Tuesday, hitting $25.92. 57,517 shares of the company's stock traded hands, compared to its average volume of 305,921. Vitesse Energy, Inc. has a 12 month low of $18.90 and a 12 month high of $28.41. The stock's 50 day simple moving average is $24.68 and its 200 day simple moving average is $23.32. The stock has a market cap of $1.00 billion, a PE ratio of 24.42 and a beta of 0.68. 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 released its quarterly earnings data on Monday, August 4th. The company reported $0.60 earnings per share for the quarter, beating 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 company had revenue of $81.76 million during the quarter, compared to analyst estimates of $69.78 million. On average, sell-side analysts anticipate that Vitesse Energy, Inc. will post 1.05 EPS for the current year.

Vitesse Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.25 annualized dividend and a dividend yield of 8.7%. Vitesse Energy's payout ratio is presently 212.26%.

Analysts Set New Price Targets

VTS has been the topic of several research reports. Alliance Global Partners initiated coverage on shares of Vitesse Energy in a research report on Wednesday, May 14th. They issued a "buy" rating and a $26.00 price objective on the stock. Zacks Research raised shares of Vitesse Energy to a "strong-buy" rating in a research report on Friday, August 8th. Northland Capmk raised shares of Vitesse Energy to a "hold" rating in a research report on Tuesday, May 20th. Northland Securities cut shares of Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 target price on the stock. in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.50.

Vitesse Energy Company Profile

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.