First Wilshire Securities Management Inc. Reduces Position in Vitesse Energy, Inc. $VTS

Key Points

• First Wilshire Securities Management cut its Vitesse Energy stake by 40.1% in the first quarter, selling 88,273 shares and ending with 131,679 shares worth about $2.39 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 51.63% of Vitesse Energy’s stock. Several firms, including Royal Bank of Canada and Millennium Management, increased their positions during the quarter.
• Vitesse Energy recently paid a quarterly dividend of $0.4375 per share, implying an annualized yield of about 11.0%. Meanwhile, the stock traded near its 52-week low at $15.88, and analysts currently have an average “Reduce” rating with a $20 price target.

First Wilshire Securities Management Inc. lessened its holdings in shares of Vitesse Energy, Inc. (NYSE:VTS - Free Report) by 40.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,679 shares of the company's stock after selling 88,273 shares during the quarter. First Wilshire Securities Management Inc. owned about 0.32% of Vitesse Energy worth $2,391,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Vitesse Energy by 48.3% in the first quarter. Royal Bank of Canada now owns 36,074 shares of the company's stock valued at $888,000 after purchasing an additional 11,747 shares during the period. AQR Capital Management LLC lifted its stake in shares of Vitesse Energy by 29.7% during the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company's stock valued at $535,000 after buying an additional 5,002 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vitesse Energy by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company's stock worth $376,000 after buying an additional 1,065 shares during the period. Millennium Management LLC grew its stake in Vitesse Energy by 241.7% in the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company's stock valued at $4,415,000 after buying an additional 126,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Vitesse Energy by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company's stock valued at $5,012,000 after buying an additional 9,943 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company's stock.

Vitesse Energy Price Performance

NYSE:VTS opened at $15.88 on Wednesday. Vitesse Energy, Inc. has a 52-week low of $15.01 and a 52-week high of $27.15. The stock has a fifty day moving average of $16.72 and a 200 day moving average of $18.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $662.56 million, a price-to-earnings ratio of -31.77 and a beta of 0.57.

Vitesse Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date was Monday, June 15th. Vitesse Energy's dividend payout ratio (DPR) is -350.00%.

Insider Activity

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 40,882 shares of the business's stock in a transaction dated Monday, June 15th. The stock was bought at an average price 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 of the company's stock, valued at $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Northland Securities set a $20.00 price target on Vitesse Energy in a report on Wednesday, May 6th. Finally, Zacks Research cut Vitesse Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $20.00.

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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