Gabelli Funds LLC Has $2.10 Million Stock Position in Vitesse Energy, Inc. $VTS

Key Points

• Gabelli Funds LLC increased its holdings in Vitesse Energy, Inc. by 16.3% to 85,485 shares, amounting to a value of $2.1 million.
• The company reported $0.60 earnings per share for the latest quarter, significantly exceeding the consensus estimate of $0.10, alongside revenues of $81.76 million.
• A recent dividend of $0.5625 per share has been announced, representing an annualized yield of 8.4% for shareholders of record as of September 15th.

Gabelli Funds LLC raised its position in Vitesse Energy, Inc. (NYSE:VTS - Free Report) by 16.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 85,485 shares of the company's stock after buying an additional 11,950 shares during the period. Gabelli Funds LLC owned about 0.22% of Vitesse Energy worth $2,102,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SouthState Corp bought a new position in Vitesse Energy in the 1st quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Vitesse Energy in the 1st quarter valued at $98,000. GAMMA Investing LLC boosted its position in 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 last quarter. BNP Paribas Financial Markets bought a new position in Vitesse Energy in the 4th quarter valued at $162,000. Finally, MMCAP International Inc. SPC bought a new position in Vitesse Energy in the 1st quarter valued at $167,000. 51.63% of the stock is currently owned by institutional investors.

Vitesse Energy Trading Down 1.7%

Vitesse Energy stock traded down $0.44 during mid-day trading on Wednesday, hitting $25.82. 311,032 shares of the company's stock were exchanged, compared to its average volume of 306,103. The firm has a market capitalization of $996.91 million, a P/E ratio of 24.36 and a beta of 0.68. Vitesse Energy, Inc. has a fifty-two week low of $18.90 and a fifty-two week 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. The company's 50 day simple moving average is $24.42 and its 200-day simple moving average is $23.37.

Vitesse Energy (NYSE:VTS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.10 by $0.50. Vitesse Energy had a return on equity of 7.25% and a net margin of 15.12%.The business had revenue of $81.76 million for the quarter, compared to the consensus estimate of $69.78 million. On average, equities analysts anticipate that Vitesse Energy, Inc. will post 1.05 earnings per share for the current year.

Vitesse Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Northland Securities lowered Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 price objective on the stock. in a research report on Tuesday, May 20th. Zacks Research raised Vitesse Energy to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen raised Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Alliance Global Partners initiated coverage on Vitesse Energy in a research note on Wednesday, May 14th. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Northland Capmk raised Vitesse Energy to a "hold" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Vitesse Energy presently has an average rating of "Moderate Buy" and an average target price of $26.50.

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.