Wells Fargo & Company MN Boosts Stake in Vitesse Energy, Inc. (NYSE:VTS)

Wells Fargo & Company MN raised its position in shares of Vitesse Energy, Inc. (NYSE:VTS) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,387 shares of the company’s stock after purchasing an additional 2,431 shares during the period. Wells Fargo & Company MN owned approximately 0.43% of Vitesse Energy worth $3,160,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Vitesse Energy during the 4th quarter valued at about $29,000. R Squared Ltd bought a new position in Vitesse Energy during the fourth quarter valued at approximately $79,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Vitesse Energy during the third quarter worth approximately $78,000. KLP Kapitalforvaltning AS bought a new stake in shares of Vitesse Energy in the 4th quarter worth approximately $104,000. Finally, AlphaQuest LLC boosted its stake in shares of Vitesse Energy by 415.4% in the 4th quarter. AlphaQuest LLC now owns 7,375 shares of the company’s stock valued at $184,000 after purchasing an additional 5,944 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

VTS has been the topic of a number of analyst reports. Northland Securities lifted their target price on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and issued a $28.00 target price on shares of Vitesse Energy in a research note on Wednesday, March 19th. Roth Mkm boosted their target price on Vitesse Energy from $30.50 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Finally, Northland Capmk raised shares of Vitesse Energy to a “strong-buy” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $30.25.

Vitesse Energy Stock Performance

Shares of VTS opened at $21.14 on Wednesday. The business’s 50 day moving average price is $23.60 and its 200-day moving average price is $25.33. The stock has a market cap of $815.54 million, a P/E ratio of 14.48 and a beta of 0.56. Vitesse Energy, Inc. has a 52 week low of $18.90 and a 52 week high of $28.41. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20.

Vitesse Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 21st were issued a dividend of $0.5625 per share. The ex-dividend date was Friday, March 21st. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a dividend yield of 10.64%. Vitesse Energy’s dividend payout ratio (DPR) is presently 351.56%.

Vitesse Energy 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.