Vitesse Energy, Inc. (NYSE:VTS) Receives Average Rating of “Hold” from Brokerages

Shares of Vitesse Energy, Inc. (NYSE:VTS) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.50.

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Wall Street Zen lowered shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, CAO Mike Morella sold 5,202 shares of Vitesse Energy stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $20.13, for a total value of $104,716.26. Following the sale, the chief accounting officer owned 82,413 shares in the company, valued at $1,658,973.69. The trade was a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert W. Gerrity sold 90,737 shares of Vitesse Energy stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $20.14, for a total value of $1,827,443.18. Following the completion of the sale, the chief executive officer owned 514,693 shares in the company, valued at $10,365,917.02. This represents a 14.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 341,808 shares of company stock worth $6,758,540. Insiders own 18.15% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Vitesse Energy by 20.0% in the second quarter. American Century Companies Inc. now owns 845,848 shares of the company’s stock valued at $18,685,000 after buying an additional 140,768 shares during the last quarter. First Wilshire Securities Management Inc. boosted its stake in Vitesse Energy by 539.7% during the second quarter. First Wilshire Securities Management Inc. now owns 223,754 shares of the company’s stock worth $4,943,000 after buying an additional 188,774 shares during the period. GoodHaven Capital Management LLC increased its position in shares of Vitesse Energy by 2.7% during the second quarter. GoodHaven Capital Management LLC now owns 552,151 shares of the company’s stock valued at $12,197,000 after acquiring an additional 14,300 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Vitesse Energy by 9.5% during the second quarter. Geode Capital Management LLC now owns 695,919 shares of the company’s stock valued at $15,376,000 after acquiring an additional 60,229 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Vitesse Energy in the 2nd quarter valued at approximately $222,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Vitesse Energy Stock Performance

NYSE VTS opened at $19.23 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $20.41 and its two-hundred day moving average is $21.47. The firm has a market capitalization of $765.01 million, a P/E ratio of 30.53 and a beta of 0.68. Vitesse Energy has a fifty-two week low of $17.44 and a fifty-two week high of $27.15.

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

Vitesse Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, March 16th. Vitesse Energy’s payout ratio is presently 277.78%.

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.