Vitesse Energy, Inc. (NYSE:VTS) Given Consensus Recommendation of “Hold” by Brokerages

Vitesse Energy, Inc. (NYSE:VTS) has earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.50.

A number of equities analysts recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Zacks Research cut Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday. Finally, Wall Street Zen upgraded Vitesse Energy from a “sell” rating to a “hold” rating in a report on Friday, November 28th.

Vitesse Energy Stock Performance

NYSE VTS opened at $19.23 on Friday. The stock has a market cap of $743.62 million, a PE ratio of 38.46 and a beta of 0.64. Vitesse Energy has a twelve month low of $18.86 and a twelve month high of $27.49. The stock has a fifty day simple moving average of $20.84 and a 200-day simple moving average of $22.92. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Vitesse Energy (NYSE:VTS) last announced its earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.13). The company had revenue of $67.44 million for the quarter, compared to analysts’ expectations of $65.70 million. Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%. Equities analysts anticipate that Vitesse Energy will post 1.05 earnings per share for the current year.

Vitesse Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.5625 per share. The ex-dividend date was Monday, December 15th. This represents a $2.25 dividend on an annualized basis and a yield of 11.7%. Vitesse Energy’s dividend payout ratio is 450.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Vitesse Energy by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 208,250 shares of the company’s stock worth $4,838,000 after buying an additional 5,356 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Vitesse Energy by 4.4% in the third quarter. CIBC Private Wealth Group LLC now owns 30,965 shares of the company’s stock worth $719,000 after acquiring an additional 1,306 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Vitesse Energy during the third quarter worth $793,000. NewEdge Advisors LLC increased its position in shares of Vitesse Energy by 3,348.1% during the third quarter. NewEdge Advisors LLC now owns 17,551 shares of the company’s stock worth $408,000 after acquiring an additional 17,042 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Vitesse Energy in the third quarter valued at $700,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Vitesse Energy Company Profile

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.