Vitesse Energy (NYSE:VTS) Shares Climb 4.7% - Here's What Happened

Key Points

• Vitesse Energy shares rose 4.7% to $18.23 in Friday trading, despite volume running 60% below the average session level.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $20.50.
• The company recently paid a quarterly dividend of $0.4375 per share, equivalent to $1.75 annually and a 9.6% yield; institutional investors own 51.63% of the shares.

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) traded up 4.7% on Friday. The stock traded as high as $18.09 and last traded at $18.23. 200,321 shares were traded during trading, a decline of 60% from the average session volume of 506,567 shares. The stock had previously closed at $17.41.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup reissued an "outperform" rating on shares of Vitesse Energy in a report on Thursday, September 17th. Alliance Global Partners reaffirmed a "buy" rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Northland Securities set a $20.50 price target on shares of Vitesse Energy in a report on Thursday, September 17th. Wall Street Zen upgraded shares of Vitesse Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Vitesse Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.50.

Vitesse Energy Stock Performance

The stock has a market cap of $766.71 million, a price-to-earnings ratio of -55.21 and a beta of 0.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. The company's fifty day simple moving average is $17.19 and its two-hundred day simple moving average is $17.11.

Vitesse Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date of this dividend was Tuesday, September 15th. Vitesse Energy's payout ratio is currently -530.30%.

Hedge Funds Weigh In On Vitesse Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VTS. Farther Finance Advisors LLC lifted its stake in Vitesse Energy by 458.6% in the third quarter. Farther Finance Advisors LLC now owns 1,877 shares of the company's stock valued at $31,000 after purchasing an additional 1,541 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Vitesse Energy in the second quarter worth $30,000. Versant Capital Management Inc increased its position in Vitesse Energy by 3,545.7% in the third quarter. Versant Capital Management Inc now owns 2,552 shares of the company's stock worth $43,000 after buying an additional 2,482 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Vitesse Energy by 359.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company's stock worth $54,000 after buying an additional 2,307 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Vitesse Energy by 150.3% in the third quarter. GAMMA Investing LLC now owns 3,334 shares of the company's stock valued at $56,000 after buying an additional 2,002 shares during the period. Hedge funds and other institutional investors own 51.63% of the company's stock.

About Vitesse Energy

Vitesse Energy, Inc is an oil and gas company that owns non-operated working interests and mineral interests in wells drilled and operated by other exploration and production companies. Rather than managing drilling operations directly, Vitesse provides capital to acquire interests in producing and development-stage properties while relying on its operating partners to handle drilling, completion, production and field operations.

The company's portfolio is focused primarily on U.S. oil-producing regions, including the Williston Basin and other major onshore basins.

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