Vitesse Energy (NYSE:VTS) CEO Sells 90,737 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) CEO Robert Gerrity sold 90,737 shares of the 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 sale, the chief executive officer owned 514,693 shares of the company’s stock, valued at approximately $10,365,917.02. This represents a 14.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vitesse Energy Stock Down 2.7%

VTS stock traded down $0.54 on Friday, hitting $19.22. 388,662 shares of the company’s stock were exchanged, compared to its average volume of 391,718. The firm has a 50 day moving average price of $20.47 and a two-hundred day moving average price of $22.68. Vitesse Energy, Inc. has a 12-month low of $18.84 and a 12-month high of $27.49. The stock has a market cap of $743.24 million, a P/E ratio of 38.44 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.13). Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%.The business had revenue of $67.44 million during the quarter, compared to analyst estimates of $65.70 million. As a group, equities research analysts expect that Vitesse Energy, Inc. will post 1.05 EPS for the current fiscal year.

Vitesse Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 11.7%. The ex-dividend date of this dividend was Monday, December 15th. Vitesse Energy’s payout ratio is currently 450.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Argentarii LLC acquired a new position in shares of Vitesse Energy in the fourth quarter worth about $561,000. SG Americas Securities LLC increased its stake in shares of Vitesse Energy by 37.7% in the 4th quarter. SG Americas Securities LLC now owns 40,740 shares of the company’s stock valued at $785,000 after purchasing an additional 11,155 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Vitesse Energy by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 208,250 shares of the company’s stock worth $4,838,000 after purchasing an additional 5,356 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Vitesse Energy by 4.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 30,965 shares of the company’s stock worth $719,000 after purchasing an additional 1,306 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in Vitesse Energy during the third quarter worth approximately $793,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vitesse Energy in a research note on Monday, December 29th. Finally, Evercore ISI reduced their price objective on Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.50.

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.