Vitesse Energy (NYSE:VTS) Shares Down 4.4% - Should You Sell?

Key Points

• Vitesse Energy shares fell 4.4% to about $17.72 on unusually low trading volume, with 50-day and 200-day moving averages at $16.55 and $17.46, respectively.
• Analyst sentiment is mixed but averages to a “Hold” rating, with two Buy, two Hold, and one Sell recommendations and a consensus price target of $19.25.
• The company declared a quarterly dividend of $0.4375 per share, equal to $1.75 annually and a 9.9% yield; institutional investors own 51.63% of outstanding shares.

Shares of Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) were down 4.4% during trading on Wednesday . The stock traded as low as $17.75 and last traded at $17.7170. 50,460 shares were traded during trading, a decline of 90% from the average daily volume of 507,439 shares. The stock had previously closed at $18.53.

Analyst Ratings Changes

VTS has been the subject of a number of research reports. Wall Street Zen raised Vitesse Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Vitesse Energy in a research note on Monday, August 3rd. Zacks Research cut Vitesse Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Northland Securities upgraded shares of Vitesse Energy from a "market perform" rating to an "outperform" rating and set a $18.50 price target on the stock in a report on Thursday, July 23rd. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.25.

Vitesse Energy Trading Down 4.4%

The firm has a market cap of $745.59 million, a price-to-earnings ratio of -53.62 and a beta of 0.60. The business has a 50 day moving average price of $16.55 and a 200-day moving average price of $17.46. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.25.

Vitesse Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Vitesse Energy's dividend payout ratio (DPR) is presently -530.30%.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors have recently added to or reduced their stakes in VTS. Integrated Wealth Concepts LLC acquired a new stake in Vitesse Energy during the 2nd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Vitesse Energy by 359.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company's stock worth $54,000 after acquiring an additional 2,307 shares in the last quarter. Lido Advisors LLC acquired a new position in Vitesse Energy during the 1st quarter worth $183,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Vitesse Energy in the 1st quarter worth about $188,000. Finally, MQS Management LLC acquired a new stake in shares of Vitesse Energy in the 4th quarter valued at about $296,000. Institutional investors and hedge funds own 51.63% of the company's stock.

Vitesse Energy Company Profile

Vitesse Energy, Inc NYSE: VTS is an independent energy company that invests in non-operated working interests and mineral and royalty interests in oil and natural gas properties. Rather than drilling and operating wells itself, the company partners with third-party exploration and production companies, allowing it to participate in production while relying on those operators to manage development and day-to-day operations.

The company's portfolio is focused primarily on U.S. onshore oil and natural gas assets, including properties in regions such as the Bakken and Three Forks formations in North Dakota and other established producing basins.

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