Vitesse Energy, Inc. (NYSE:VTS) Short Interest Down 24.6% in March

Vitesse Energy, Inc. (NYSE:VTS) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 2,140,000 shares, a decrease of 24.6% from the February 28th total of 2,840,000 shares. Based on an average daily volume of 230,200 shares, the days-to-cover ratio is presently 9.3 days. Approximately 8.7% of the company’s shares are short sold.

Insider Buying and Selling

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

Hedge Funds Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. one8zero8 LLC acquired a new position in shares of Vitesse Energy in the fourth quarter valued at about $3,330,000. Dimensional Fund Advisors LP increased its holdings in Vitesse Energy by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,161,250 shares of the company’s stock worth $29,031,000 after buying an additional 125,988 shares during the period. Charles Schwab Investment Management Inc. raised its position in Vitesse Energy by 112.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock worth $5,450,000 after buying an additional 119,861 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Vitesse Energy by 61.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 290,554 shares of the company’s stock valued at $7,264,000 after acquiring an additional 110,830 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Vitesse Energy by 877.8% in the 4th quarter. Marshall Wace LLP now owns 121,468 shares of the company’s stock valued at $3,037,000 after acquiring an additional 109,046 shares during the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Analyst Upgrades and Downgrades

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

Vitesse Energy Stock Up 0.9 %

Shares of VTS traded up $0.23 during mid-day trading on Tuesday, hitting $24.82. 235,953 shares of the company traded hands, compared to its average volume of 192,191. The business has a 50 day moving average of $25.38 and a 200 day moving average of $25.76. The company has a market capitalization of $957.31 million, a PE ratio of 17.00 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20. Vitesse Energy has a 1-year low of $21.83 and a 1-year high of $28.41.

Vitesse Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 21st were issued a dividend of $0.5625 per share. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change 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 9.07%. Vitesse Energy’s payout ratio is 351.56%.

About Vitesse Energy

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.