Vitesse Energy (NYSE:VTS) Upgraded by Wall Street Zen to Hold Rating

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 released on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Northland Capmk upgraded shares of Vitesse Energy to a "hold" rating in a research note on Tuesday, May 20th. Northland Securities cut shares of 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. Finally, Alliance Global Partners initiated coverage on shares of Vitesse Energy in a research note on Wednesday, May 14th. They issued a "buy" rating and a $26.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.50.

Vitesse Energy Stock Performance

NYSE VTS traded up $0.51 on Friday, hitting $25.36. 138,438 shares of the company's stock traded hands, compared to its average volume of 304,737. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Vitesse Energy has a 1-year low of $18.90 and a 1-year high of $28.41. The firm's 50-day moving average price is $23.56 and its two-hundred day moving average price is $23.40. The firm has a market capitalization of $979.23 million, a PE ratio of 23.98 and a beta of 0.67.

Vitesse Energy (NYSE:VTS - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.10 by $0.50. Vitesse Energy had a net margin of 15.12% and a return on equity of 7.25%. The business had revenue of $81.76 million during the quarter, compared to analysts' expectations of $69.78 million. As a group, analysts expect that Vitesse Energy will post 1.05 EPS for the current year.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Monday, September 15th. Vitesse Energy's payout ratio is presently 212.26%.

Institutional Investors Weigh In On Vitesse Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in VTS. SouthState Corp purchased a new stake in Vitesse Energy in the 1st quarter worth $25,000. Parallel Advisors LLC grew its holdings in shares of Vitesse Energy by 74.7% during the second quarter. Parallel Advisors LLC now owns 1,303 shares of the company's stock worth $29,000 after buying an additional 557 shares in the last quarter. CWM LLC grew its holdings in shares of Vitesse Energy by 138.8% during the second quarter. CWM LLC now owns 1,827 shares of the company's stock worth $40,000 after buying an additional 1,062 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Vitesse Energy by 415.7% during the second quarter. Signaturefd LLC now owns 2,393 shares of the company's stock worth $53,000 after buying an additional 1,929 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Vitesse Energy during the first quarter worth $54,000. Hedge funds and other institutional investors own 51.63% of the company's stock.

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.