Vitesse Energy, Inc. (NYSE:VTS) Receives $26.50 Average Target Price from Brokerages

Key Points

• Vitesse Energy, Inc. (NYSE:VTS) has received a consensus rating of "Moderate Buy" from six research firms, with an average 1-year price target of $26.50.
• The company recently announced a quarterly dividend of $0.5625 per share, reflecting an annualized dividend yield of 8.4%, despite a high payout ratio of 212.26%.
• Vitesse Energy reported earnings of $0.60 per share for the last quarter, significantly exceeding the consensus estimate of $0.10, with revenues of $81.76 million compared to expectations of $69.78 million.

Shares of Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $26.50.

VTS has been the subject of several research reports. Zacks Research raised Vitesse Energy to a "strong-buy" rating in a research note on Friday, August 8th. Northland Capmk raised Vitesse Energy to a "hold" rating in a research note on Tuesday, May 20th. Northland Securities cut Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 target price for the company. in a research note on Tuesday, May 20th. Alliance Global Partners started coverage on Vitesse Energy in a report on Wednesday, May 14th. They set a "buy" rating and a $26.00 target price for the company. Finally, Wall Street Zen raised Vitesse Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

Vitesse Energy Stock Performance

NYSE:VTS traded down $0.20 during midday trading on Friday, reaching $26.06. 200,473 shares of the company traded hands, compared to its average volume of 305,504. Vitesse Energy has a twelve month low of $18.90 and a twelve month high of $28.41. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 24.57 and a beta of 0.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day moving average price of $24.42 and a 200 day moving average price of $23.37.

Vitesse Energy (NYSE:VTS - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.50. Vitesse Energy had a return on equity of 7.25% and a net margin of 15.12%.The company had revenue of $81.76 million during the quarter, compared to analysts' expectations of $69.78 million. On average, analysts expect that Vitesse Energy 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Monday, September 15th. Vitesse Energy's dividend payout ratio is currently 212.26%.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its holdings in shares of Vitesse Energy by 1.3% during the fourth quarter. Nuveen Asset Management LLC now owns 419,818 shares of the company's stock valued at $10,495,000 after purchasing an additional 5,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Vitesse Energy by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,232 shares of the company's stock valued at $356,000 after buying an additional 497 shares during the period. Principal Financial Group Inc. raised its position in Vitesse Energy by 5.4% during the first quarter. Principal Financial Group Inc. now owns 9,260 shares of the company's stock valued at $228,000 after buying an additional 476 shares during the period. Northern Trust Corp raised its position in Vitesse Energy by 6.7% during the fourth quarter. Northern Trust Corp now owns 228,805 shares of the company's stock valued at $5,720,000 after buying an additional 14,398 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Vitesse Energy during the fourth quarter valued at $162,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

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.