Vitesse Energy (NYSE:VTS) Sets New 12-Month Low - Time to Sell?

Key Points

• Vitesse Energy shares fell to a new 52-week low of $15.00, below the 50-day average of $16.51 and 200-day average of $18.45.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold” with a $19.25 price target, while Zacks Research downgraded the stock to “Strong Sell” and Northland Securities upgraded it to “Outperform.”
• The company pays a quarterly dividend of $0.4375 per share, equivalent to a 11.7% annualized yield, while director Joseph S. Steinberg purchased roughly $1.0 million in shares at $17.00 each.

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $15.00 and last traded at $15.0160, with a volume of 443797 shares trading hands. The stock had previously closed at $15.24.

Analyst Upgrades and Downgrades

VTS has been the subject of a number of research analyst reports. Zacks Research downgraded Vitesse Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, Northland Securities upgraded shares of Vitesse Energy from a "market perform" rating to an "outperform" rating and set a $18.50 price objective for the company in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.25.

Vitesse Energy Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average price of $16.51 and a 200 day moving average price of $18.45. The stock has a market cap of $626.35 million, a P/E ratio of -30.03 and a beta of 0.57.

Vitesse Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date was Monday, June 15th. Vitesse Energy's payout ratio is -350.00%.

Insiders Place Their Bets

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 59,118 shares of the company's stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the purchase, the director owned 60,552 shares of the company's stock, valued at approximately $1,029,384. This represents a 4,122.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.94% of the company's stock.

Institutional Investors Weigh In On Vitesse Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Lee Danner & Bass Inc. increased its holdings in Vitesse Energy by 81.7% during the 4th quarter. Lee Danner & Bass Inc. now owns 233,470 shares of the company's stock worth $4,497,000 after purchasing an additional 104,990 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Vitesse Energy by 58.6% in the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company's stock valued at $4,990,000 after purchasing an additional 101,506 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Vitesse Energy during the fourth quarter valued at approximately $869,000. North Star Investment Management Corp. boosted its position in shares of Vitesse Energy by 230.9% during the first quarter. North Star Investment Management Corp. now owns 135,054 shares of the company's stock valued at $2,453,000 after buying an additional 94,244 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its holdings in Vitesse Energy by 13.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company's stock worth $27,706,000 after buying an additional 165,534 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company's stock.

About Vitesse Energy

Vitesse Energy NYSE: VTS is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.

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