West Oak Capital LLC Sells 95,888 Shares of Vitesse Energy, Inc. $VTS

Key Points

• West Oak Capital LLC significantly reduced its holdings in Vitesse Energy, Inc., selling 95,888 shares and decreasing its position by 85.5% during the 2nd quarter.
• Vitesse Energy's recent earnings report showed an EPS of $0.60, surpassing estimates and contributing to an overall revenue of $81.76 million.
• The company announced a quarterly dividend of $0.5625 per share, reflecting a 9.7% yield and a payout ratio of 212.26%.

West Oak Capital LLC cut its position in Vitesse Energy, Inc. (NYSE:VTS - Free Report) by 85.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,238 shares of the company's stock after selling 95,888 shares during the quarter. West Oak Capital LLC's holdings in Vitesse Energy were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sprinkle Financial Consultants LLC bought a new stake in shares of Vitesse Energy in the second quarter valued at $281,000. Security National Bank raised its stake in shares of Vitesse Energy by 14.1% during the 2nd quarter. Security National Bank now owns 82,114 shares of the company's stock valued at $1,814,000 after purchasing an additional 10,170 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Vitesse Energy by 20.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,394 shares of the company's stock valued at $333,000 after purchasing an additional 2,491 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Vitesse Energy by 1.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 386,815 shares of the company's stock valued at $8,545,000 after purchasing an additional 4,062 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Vitesse Energy by 74.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,303 shares of the company's stock valued at $29,000 after purchasing an additional 557 shares during the period. 51.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on VTS shares. Zacks Research upgraded Vitesse Energy to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Vitesse Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Vitesse Energy Price Performance

Shares of Vitesse Energy stock opened at $23.31 on Tuesday. 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 capitalization of $900.00 million, a PE ratio of 21.99 and a beta of 0.68. The business's 50-day moving average price is $24.94 and its 200-day moving average price is $23.29. Vitesse Energy, Inc. has a 12 month low of $18.90 and a 12 month high of $28.41.

Vitesse Energy (NYSE:VTS - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.10 by $0.50. The firm had revenue of $81.76 million for 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%. Sell-side analysts forecast that Vitesse Energy, Inc. will post 1.05 EPS for the current fiscal year.

Vitesse Energy Dividend Announcement

The business 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 9.7%. Vitesse Energy's dividend payout ratio is currently 212.26%.

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.

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