Norris Financial Group LLC Purchases Shares of 76,742 Vitesse Energy, Inc. $VTS

Key Points

• Norris Financial Group acquired 76,742 shares of Vitesse Energy worth approximately $1.394 million, representing about 0.18% of the company. Institutional investors collectively own 51.63% of Vitesse’s stock.
• Vitesse shares opened at $15.29, near their 52-week low, and are down 1.1%; analysts maintain a consensus “Hold” rating with a $19.25 target price.
• The company declared a quarterly dividend of $0.4375, or $1.75 annually, implying an unusually high 11.4% yield; director Joseph S. Steinberg also purchased more than $1 million in shares.

Norris Financial Group LLC purchased a new position in shares of Vitesse Energy, Inc. (NYSE:VTS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,742 shares of the company's stock, valued at approximately $1,394,000. Norris Financial Group LLC owned about 0.18% of Vitesse Energy at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Vitesse Energy by 359.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company's stock valued at $54,000 after purchasing an additional 2,307 shares in the last quarter. Strs Ohio acquired a new stake in Vitesse Energy during the 1st quarter worth approximately $54,000. Osaic Holdings Inc. increased its position in Vitesse Energy by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company's stock worth $78,000 after purchasing an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Vitesse Energy by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company's stock valued at $84,000 after buying an additional 2,432 shares during the period. Finally, Daytona Street Capital LLC purchased a new position in Vitesse Energy in the fourth quarter valued at approximately $154,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Vitesse Energy Stock Down 1.1%

NYSE VTS opened at $15.29 on Friday. The stock has a market cap of $637.54 million, a PE ratio of -30.57 and a beta of 0.57. Vitesse Energy, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $27.15. The business has a 50 day moving average price of $16.32 and a two-hundred day moving average price of $18.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25.

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 paid a $0.4375 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.75 annualized dividend and a dividend yield of 11.4%. Vitesse Energy's dividend payout ratio is -350.00%.

Wall Street Analyst Weigh In

Several research firms have issued reports on VTS. Zacks Research downgraded shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Finally, Northland Securities upgraded shares of Vitesse Energy from a "market perform" rating to an "outperform" rating and set a $18.50 target price on the stock in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.25.

Insider Buying and Selling at Vitesse Energy

In other news, Director Joseph S. Steinberg purchased 59,118 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the acquisition, the director owned 60,552 shares in the company, valued at approximately $1,029,384. This trade represents a 4,122.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.94% of the company's stock.

About Vitesse Energy

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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