Nuveen LLC Makes New Investment in Vitesse Energy, Inc. $VTS

Key Points

• Nuveen LLC has acquired a stake in Vitesse Energy, purchasing 418,725 shares valued at approximately $10.3 million, which represents about 1.08% of the company.
• Multiple hedge funds have increased their investments in Vitesse Energy, leading to institutional investors owning 51.63% of the company's stock.
• Vitesse Energy recently announced a quarterly dividend of $0.5625 per share, reflecting an annualized yield of 8.6%, with a remarkably high payout ratio of 212.26%.

Nuveen LLC purchased a new position in Vitesse Energy, Inc. (NYSE:VTS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 418,725 shares of the company's stock, valued at approximately $10,296,000. Nuveen LLC owned approximately 1.08% of Vitesse Energy at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Vitesse Energy by 2,023.8% in the first quarter. GAMMA Investing LLC now owns 6,074 shares of the company's stock worth $149,000 after acquiring an additional 5,788 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Vitesse Energy in the fourth quarter worth about $162,000. MMCAP International Inc. SPC purchased a new position in Vitesse Energy in the first quarter worth about $167,000. GF Fund Management CO. LTD. purchased a new position in Vitesse Energy in the fourth quarter worth about $189,000. Finally, QRG Capital Management Inc. purchased a new position in Vitesse Energy in the first quarter worth about $206,000. Hedge funds and other institutional investors own 51.63% of the company's stock.

Vitesse Energy Trading Down 0.4%

Shares of NYSE VTS traded down $0.10 during trading hours on Thursday, reaching $26.72. The stock had a trading volume of 284,002 shares, compared to its average volume of 330,392. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 25.20 and a beta of 0.67. The business's fifty day moving average price is $24.20 and its two-hundred day moving average price is $23.39. Vitesse Energy, Inc. has a 52-week low of $18.90 and a 52-week high of $28.41.

Vitesse Energy (NYSE:VTS - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.50. The firm had revenue of $81.76 million during the quarter, compared to analyst estimates of $69.78 million. Vitesse Energy had a return on equity of 7.25% and a net margin of 15.12%. Analysts expect that Vitesse Energy, Inc. will post 1.05 EPS for the current fiscal year.

Vitesse Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.5625 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 8.4%. Vitesse Energy's payout ratio is presently 212.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Alliance Global Partners assumed coverage on Vitesse Energy in a research note on Wednesday, May 14th. They set a "buy" rating and a $26.00 target price on the stock. 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. Northland Capmk raised Vitesse Energy to a "hold" rating in a research note on Tuesday, May 20th. Finally, Northland Securities cut Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 target price on the stock. in a research note on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Vitesse Energy has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Vitesse Energy 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.