Vitesse Energy (NYSE:VTS) Upgraded to “Outperform” at Northland Securities

Northland Securities upgraded shares of Vitesse Energy (NYSE:VTS) from a market perform rating to an outperform rating in a research report report published on Thursday, Marketbeat reports. They currently have $18.50 target price on the stock.

VTS has been the topic of several other reports. Weiss Ratings downgraded Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Zacks Research cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Vitesse Energy has a consensus rating of “Hold” and a consensus target price of $19.25.

Vitesse Energy Price Performance

VTS stock opened at $15.96 on Thursday. Vitesse Energy has a 52-week low of $15.01 and a 52-week high of $27.15. The stock’s fifty day simple moving average is $16.63 and its 200-day simple moving average is $18.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $665.61 million, a price-to-earnings ratio of -31.92 and a beta of 0.57.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date was Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Insider Activity

In other news, Director Joseph S. Steinberg acquired 40,882 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the acquisition, the director directly owned 108,500 shares in the company, valued at approximately $1,753,360. This represents a 60.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 13.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vitesse Energy

A number of institutional investors have recently added to or reduced their stakes in VTS. Oppenheimer & Co. Inc. raised its holdings in shares of Vitesse Energy by 2.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock valued at $400,000 after buying an additional 530 shares during the period. Ausdal Financial Partners Inc. lifted its position in Vitesse Energy by 5.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock worth $257,000 after acquiring an additional 690 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Vitesse Energy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock worth $576,000 after acquiring an additional 756 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Vitesse Energy by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock worth $404,000 after acquiring an additional 786 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vitesse Energy by 5.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,158 shares of the company’s stock valued at $357,000 after acquiring an additional 861 shares in the last quarter. 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.