Vitesse Energy (NYSE:VTS) Hits New 12-Month Low – What’s Next?

Shares of Vitesse Energy, Inc. (NYSE:VTS) hit a new 52-week low on Thursday . The stock traded as low as $18.90 and last traded at $21.35, with a volume of 772979 shares traded. The stock had previously closed at $19.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VTS shares. Roth Mkm upped their target price on Vitesse Energy from $30.50 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Alliance Global Partners upgraded Vitesse Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $26.00 to $29.00 in a report on Tuesday, December 17th. Northland Securities upped their target price on Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Northland Capmk upgraded Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $28.00 target price on shares of Vitesse Energy in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $30.25.

Vitesse Energy Stock Up 8.4 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $823.64 million, a PE ratio of 14.62 and a beta of 0.56. The business has a 50 day moving average of $24.65 and a two-hundred day moving average of $25.58.

Vitesse Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 21st were paid a dividend of $0.5625 per share. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date was Friday, March 21st. Vitesse Energy’s dividend payout ratio is 351.56%.

Insider Buying and Selling

In related news, CAO Mike Morella sold 8,143 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total transaction of $217,336.67. Following the transaction, the chief accounting officer now directly owns 81,615 shares of the company’s stock, valued at $2,178,304.35. This represents a 9.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael Sabol sold 6,714 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total value of $179,263.80. Following the transaction, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Inlet Private Wealth LLC increased its position in Vitesse Energy by 0.7% during the 4th quarter. Inlet Private Wealth LLC now owns 59,651 shares of the company’s stock valued at $1,491,000 after buying an additional 400 shares in the last quarter. Principal Financial Group Inc. increased its position in Vitesse Energy by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 8,784 shares of the company’s stock valued at $220,000 after buying an additional 418 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Vitesse Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,232 shares of the company’s stock valued at $356,000 after buying an additional 497 shares in the last quarter. Rhumbline Advisers increased its position in Vitesse Energy by 1.6% during the 4th quarter. Rhumbline Advisers now owns 41,929 shares of the company’s stock valued at $1,048,000 after buying an additional 660 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Vitesse Energy by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 241,761 shares of the company’s stock valued at $5,807,000 after purchasing an additional 853 shares during the period. 51.63% of the stock is owned by institutional investors and hedge funds.

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.