Vitesse Energy (NYSE:VTS) Sees Unusually-High Trading Volume – What’s Next?

Shares of Vitesse Energy, Inc. (NYSE:VTS) saw an uptick in trading volume on Monday . 155,023 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 183,235 shares.The stock last traded at $23.99 and had previously closed at $22.89.

Analyst Upgrades and Downgrades

VTS has been the subject of a number of research analyst reports. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $29.00 in a research report on Tuesday, December 17th. Northland Securities increased their price objective on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and set a $28.00 price target on shares of Vitesse Energy in a report on Wednesday, March 19th. Finally, Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th.

Vitesse Energy Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $944.00 million, a price-to-earnings ratio of 16.76 and a beta of 0.53. The business’s 50-day moving average price is $25.63 and its two-hundred day moving average price is $25.74.

Vitesse Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 9.19%. Vitesse Energy’s payout ratio is currently 351.56%.

Insider Transactions at Vitesse Energy

In other news, CAO Mike Morella sold 8,143 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total transaction of $217,336.67. Following the completion of the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. This represents a 9.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total transaction of $179,263.80. Following the completion of the transaction, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. This trade represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by insiders.

Institutional Trading of Vitesse Energy

Several institutional investors and hedge funds have recently modified their holdings of VTS. Harbor Capital Advisors Inc. raised its stake in Vitesse Energy by 61.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 290,554 shares of the company’s stock worth $7,264,000 after acquiring an additional 110,830 shares in the last quarter. Barclays PLC increased its position in Vitesse Energy by 325.7% during the 3rd quarter. Barclays PLC now owns 39,528 shares of the company’s stock worth $950,000 after purchasing an additional 30,243 shares in the last quarter. Geode Capital Management LLC lifted its stake in Vitesse Energy by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 582,234 shares of the company’s stock valued at $13,988,000 after purchasing an additional 9,724 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Vitesse Energy by 112.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock valued at $5,450,000 after buying an additional 119,861 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Vitesse Energy by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 241,761 shares of the company’s stock worth $5,807,000 after buying an additional 853 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Vitesse Energy Company 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.