Wall Street Zen Upgrades Vitesse Energy (NYSE:VTS) to Hold

Key Points

• Vitesse Energy was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more optimistic outlook on the company's stock.
• Analysts have set an average price target of $26.50 for Vitesse Energy, with ratings ranging from "buy" to "hold" among various firms.
• The company's recent quarterly earnings report exceeded expectations, posting an earnings per share (EPS) of $0.60, significantly higher than the consensus estimate of $0.10.

Wall Street Zen upgraded shares of Vitesse Energy (NYSE:VTS - Free Report) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other equities analysts have also weighed in on the stock. Northland Capmk raised shares of Vitesse Energy to a "hold" rating in a research report on Tuesday, May 20th. Northland Securities lowered shares of Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 price objective on the stock. in a research report on Tuesday, May 20th. Finally, Alliance Global Partners initiated coverage on shares of Vitesse Energy in a research report on Wednesday, May 14th. They issued a "buy" rating and a $26.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Vitesse Energy currently has an average rating of "Hold" and an average price target of $26.50.

Vitesse Energy Stock Performance

VTS stock traded down $0.12 during trading hours on Friday, reaching $25.27. The stock had a trading volume of 44,821 shares, compared to its average volume of 303,601. The stock has a market capitalization of $975.67 million, a PE ratio of 23.87 and a beta of 0.67. 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 stock has a 50-day simple moving average of $23.63 and a 200 day simple moving average of $23.41. Vitesse Energy has a fifty-two week low of $18.90 and a fifty-two week high of $28.41.

Vitesse Energy (NYSE:VTS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.50. The company had revenue of $81.76 million for the quarter, compared to analyst estimates of $69.78 million. Vitesse Energy had a net margin of 15.12% and a return on equity of 7.25%. Analysts predict that Vitesse Energy will post 1.05 EPS for the current fiscal year.

Vitesse Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Monday, September 15th. Vitesse Energy's dividend payout ratio (DPR) is currently 212.26%.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds have recently bought and sold shares of the business. LPL Financial LLC increased its holdings in Vitesse Energy by 31.3% in the 4th quarter. LPL Financial LLC now owns 17,344 shares of the company's stock valued at $434,000 after buying an additional 4,132 shares during the period. JPMorgan Chase & Co. increased its holdings in Vitesse Energy by 10.5% in the 4th quarter. JPMorgan Chase & Co. now owns 267,243 shares of the company's stock valued at $6,681,000 after buying an additional 25,482 shares during the period. Wells Fargo & Company MN increased its holdings in Vitesse Energy by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 126,387 shares of the company's stock valued at $3,160,000 after buying an additional 2,431 shares during the period. Invesco Ltd. increased its holdings in Vitesse Energy by 5.8% in the 4th quarter. Invesco Ltd. now owns 76,837 shares of the company's stock valued at $1,921,000 after buying an additional 4,224 shares during the period. Finally, Legal & General Group Plc increased its holdings in Vitesse Energy by 4.1% in the 4th quarter. Legal & General Group Plc now owns 30,793 shares of the company's stock valued at $770,000 after buying an additional 1,219 shares during the period. 51.63% of the stock is owned by 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.