Vitesse Energy (NYSE:VTS) Shares Gap Down – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS) shares gapped down before the market opened on Friday . The stock had previously closed at $19.43, but opened at $18.50. Vitesse Energy shares last traded at $18.1660, with a volume of 392,173 shares.

Analyst Upgrades and Downgrades

VTS has been the subject of several analyst reports. Wall Street Zen lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

Vitesse Energy Trading Down 4.7%

The stock has a market capitalization of $736.92 million, a price-to-earnings ratio of 29.41 and a beta of 0.68. The company’s 50 day moving average is $20.34 and its 200 day moving average is $21.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.12). Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%.The company had revenue of $58.62 million during the quarter, compared to analyst estimates of $67.10 million. On average, research analysts forecast that Vitesse Energy, Inc. will post 1.05 EPS for the current fiscal year.

Vitesse Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.75 dividend on an annualized basis and a yield of 9.4%. Vitesse Energy’s dividend payout ratio (DPR) is 277.78%.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, CEO Robert W. Gerrity sold 90,737 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $20.14, for a total value of $1,827,443.18. Following the completion of the transaction, the chief executive officer owned 514,693 shares of the company’s stock, valued at $10,365,917.02. This represents a 14.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Brian Cree sold 43,216 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $20.12, for a total value of $869,505.92. Following the completion of the sale, the president owned 519,679 shares of the company’s stock, valued at $10,455,941.48. This represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 341,808 shares of company stock worth $6,758,540 over the last three months. Company insiders own 18.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in Vitesse Energy during the third quarter valued at approximately $34,000. Rakuten Investment Management Inc. bought a new position in shares of Vitesse Energy during the 3rd quarter worth approximately $37,000. Jones Financial Companies Lllp boosted its stake in Vitesse Energy by 203.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock valued at $43,000 after buying an additional 1,187 shares in the last quarter. Strs Ohio acquired a new stake in Vitesse Energy in the 1st quarter valued at $54,000. Finally, Ameritas Investment Partners Inc. grew its position in Vitesse Energy by 21.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,011 shares of the company’s stock valued at $67,000 after acquiring an additional 538 shares during the period. 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.