Vitesse Energy (NYSE:VTS) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Vitesse Energy has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research.
• While three analysts maintain a "buy" rating, a consensus rating for the stock is currently a "hold" with an average target price of $24.50.
• The company reported earnings of $0.60 per share in its last quarter, significantly exceeding analyst expectations of $0.10.

Vitesse Energy (NYSE:VTS - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Vitesse Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Evercore ISI decreased their target price on Vitesse Energy from $22.00 to $20.00 and set an "in-line" rating for the company in a report on Monday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Vitesse Energy in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Vitesse Energy has a consensus rating of "Hold" and an average target price of $24.50.

Vitesse Energy Trading Down 1.1%

VTS opened at $23.24 on Monday. Vitesse Energy has a 52 week low of $18.90 and a 52 week high of $28.41. The business has a fifty day simple moving average of $24.86 and a 200-day simple moving average of $23.27. The firm has a market cap of $897.37 million, a P/E ratio of 21.93 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16.

Vitesse Energy (NYSE:VTS - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.60 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 business had revenue of $81.76 million during the quarter, compared to analyst estimates of $69.78 million. On average, equities analysts expect that Vitesse Energy will post 1.05 earnings per share for the current year.

Institutional Trading of Vitesse Energy

Institutional investors have recently bought and sold shares of the business. SouthState Corp purchased a new stake in Vitesse Energy during the 1st quarter worth about $25,000. Parallel Advisors LLC lifted its holdings in Vitesse Energy by 74.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,303 shares of the company's stock worth $29,000 after buying an additional 557 shares during the last quarter. CWM LLC lifted its holdings in Vitesse Energy by 138.8% during the 2nd quarter. CWM LLC now owns 1,827 shares of the company's stock worth $40,000 after buying an additional 1,062 shares during the last quarter. Strs Ohio purchased a new stake in Vitesse Energy during the 1st quarter worth about $54,000. Finally, Signaturefd LLC lifted its holdings in Vitesse Energy by 415.7% during the 2nd quarter. Signaturefd LLC now owns 2,393 shares of the company's stock worth $53,000 after buying an additional 1,929 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Company 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.

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