Vitesse Energy (NYSE:VTS) Shares Gap Up - Time to Buy?

Key Points

• Vitesse Energy shares gapped up on Tuesday, opening at $25.34, a significant increase from the previous close of $23.53, indicating potential investor interest.
• Equities analysts have given mixed ratings on Vitesse Energy, with one sell rating, three hold ratings, and two buy ratings, leading to an average rating of "Hold" and a target price of $26.50.
• The company announced a quarterly dividend of $0.5625, representing an annualized yield of 8.9%, although its dividend payout ratio stands high at 284.81%.

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $23.53, but opened at $25.34. Vitesse Energy shares last traded at $25.12, with a volume of 27,013 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Vitesse Energy from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Alliance Global Partners started coverage on Vitesse Energy in a research report on Wednesday, May 14th. They set a "buy" rating and a $26.00 price target on the stock. Northland Securities downgraded Vitesse Energy from an "outperform" rating to a "market perform" rating and set a $19.00 price target on the stock. in a research report on Tuesday, May 20th. Finally, Northland Capmk raised Vitesse Energy to a "hold" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.50.

Vitesse Energy Stock Performance

The stock has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $23.45. The stock has a market cap of $978.86 million, a price-to-earnings ratio of 32.14 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.73 and a current ratio of 0.73.

Vitesse Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Monday, September 15th. Vitesse Energy's dividend payout ratio is presently 284.81%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VTS. Raymond James Financial Inc. bought a new position in shares of Vitesse Energy in the 4th quarter valued at $569,000. KLP Kapitalforvaltning AS bought a new position in Vitesse Energy during the 4th quarter worth $104,000. LPL Financial LLC raised its position in Vitesse Energy by 31.3% during the 4th quarter. LPL Financial LLC now owns 17,344 shares of the company's stock worth $434,000 after purchasing an additional 4,132 shares during the last quarter. JPMorgan Chase & Co. raised its position in Vitesse Energy by 10.5% during the 4th quarter. JPMorgan Chase & Co. now owns 267,243 shares of the company's stock worth $6,681,000 after purchasing an additional 25,482 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Vitesse Energy by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 126,387 shares of the company's stock worth $3,160,000 after purchasing an additional 2,431 shares during the last quarter. 51.63% of the stock is currently 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.

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