Punch & Associates Investment Management Inc. Cuts Position in Vitesse Energy, Inc. $VTS

Key Points

• Punch & Associates Investment Management Inc. has reduced its stake in Vitesse Energy by 8.2% in Q1, now holding approximately 1.6% of the company's shares, valuing them at $25 million.
• Vitesse Energy announced a quarterly dividend of $0.5625 per share, translating to an annualized dividend yield of 8.8%, reflecting a payout ratio of over 212%.
• After its latest earnings report, Vitesse Energy received mixed ratings from analysts, with a consensus price target of $26.50 and some analysts downgrading their ratings, while others upgraded it to a "strong-buy."

Punch & Associates Investment Management Inc. lessened its holdings in Vitesse Energy, Inc. (NYSE:VTS - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,020,442 shares of the company's stock after selling 91,420 shares during the period. Vitesse Energy makes up 1.6% of Punch & Associates Investment Management Inc.'s investment portfolio, making the stock its 11th largest position. Punch & Associates Investment Management Inc. owned 2.64% of Vitesse Energy worth $25,093,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. SouthState Corp purchased a new stake in shares of Vitesse Energy in the 1st quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Vitesse Energy in the 1st quarter valued at approximately $98,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 5,788 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Vitesse Energy in the 4th quarter valued at approximately $162,000. Finally, MMCAP International Inc. SPC purchased a new stake in shares of Vitesse Energy in the 1st quarter valued at approximately $167,000. Institutional investors and hedge funds own 51.63% of the company's stock.

Vitesse Energy Stock Down 0.7%

VTS traded down $0.18 on Thursday, hitting $25.69. 284,042 shares of the company were exchanged, compared to its average volume of 307,254. Vitesse Energy, Inc. has a twelve month low of $18.90 and a twelve month high of $28.41. The company has a market cap of $991.93 million, a price-to-earnings ratio of 24.24 and a beta of 0.68. 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 50-day moving average price of $24.79 and a two-hundred day moving average price of $23.35.

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

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Monday, September 15th. Vitesse Energy's dividend payout ratio is presently 212.26%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VTS. Wall Street Zen raised shares of Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Alliance Global Partners began coverage on shares of Vitesse Energy in a research note on Wednesday, May 14th. They issued a "buy" rating and a $26.00 price target on the stock. Northland Securities downgraded shares of Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 price target on the stock. in a research note on Tuesday, May 20th. Zacks Research upgraded shares of Vitesse Energy to a "strong-buy" rating in a report on Friday, August 8th. Finally, Northland Capmk upgraded shares of Vitesse Energy to a "hold" rating in a report 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.