Vitesse Energy (NYSE:VTS) Upgraded at Northland Securities

Key Points

• Northland Securities upgraded Vitesse Energy from “market perform” to “outperform” and set a $18.50 price target, implying about 16% upside from the prior close.
• Despite the upgrade, analyst sentiment is still mixed: recent reports included a downgrade from Zacks, and the broader consensus remains a “Hold” with a consensus price target of $19.25.
• Vitesse Energy shares were trading at $15.89 and have ranged between $15.01 and $27.15 over the past 52 weeks; the stock also saw notable insider buying by Director Joseph S. Steinberg.

Vitesse Energy (NYSE:VTS - Get Free Report) was upgraded by analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $18.50 price objective on the stock. Northland Securities' price target suggests a potential upside of 16.39% from the stock's previous close.

VTS has been the subject of a number of other research reports. Zacks Research cut shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Weiss Ratings lowered shares of Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Vitesse Energy presently has a consensus rating of "Hold" and a consensus price target of $19.25.

Vitesse Energy Stock Performance

Shares of Vitesse Energy stock opened at $15.89 on Thursday. The company has a 50 day moving average price of $16.68 and a 200 day moving average price of $18.53. The firm has a market capitalization of $662.98 million, a P/E ratio of -31.79 and a beta of 0.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. Vitesse Energy has a 52 week low of $15.01 and a 52 week high of $27.15.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 59,118 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the purchase, the director owned 60,552 shares in the company, valued at approximately $1,029,384. The trade was a 4,122.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.94% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Vitesse Energy by 2,499.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company's stock worth $9,757,000 after buying an additional 403,843 shares during the last quarter. Millennium Management LLC raised its position in Vitesse Energy by 2,102.0% during the third quarter. Millennium Management LLC now owns 204,350 shares of the company's stock valued at $4,747,000 after acquiring an additional 195,070 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in Vitesse Energy by 17.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company's stock valued at $29,572,000 after acquiring an additional 193,195 shares in the last quarter. Renaissance Technologies LLC raised its position in Vitesse Energy by 585.0% during the fourth quarter. Renaissance Technologies LLC now owns 168,500 shares of the company's stock valued at $3,245,000 after acquiring an additional 143,900 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Vitesse Energy by 85.5% in the fourth quarter. First Trust Advisors LP now owns 252,248 shares of the company's stock valued at $4,858,000 after acquiring an additional 116,246 shares during the period. Hedge funds and other institutional investors 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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