Vitesse Energy (NYSE:VTS) Stock Price Down 5.2% – Should You Sell?

Shares of Vitesse Energy, Inc. (NYSE:VTS) were down 5.2% on Monday . The stock traded as low as $18.61 and last traded at $18.85. Approximately 320,893 shares were traded during trading, a decline of 27% from the average daily volume of 440,181 shares. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VTS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Vitesse Energy presently has a consensus rating of “Hold” and an average price target of $24.50.

Vitesse Energy Stock Performance

The stock has a market cap of $743.33 million, a price-to-earnings ratio of 29.75 and a beta of 0.68. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $20.41 and its two-hundred day moving average is $21.33.

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

Vitesse Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Monday, March 16th. Vitesse Energy’s dividend payout ratio is presently 277.78%.

Insider Buying and Selling at Vitesse Energy

In related news, CEO Robert W. Gerrity sold 90,737 shares of the company’s 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 directly owned 514,693 shares of the company’s stock, valued at $10,365,917.02. This represents a 14.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Brian Cree sold 43,216 shares of Vitesse Energy stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $20.12, for a total transaction of $869,505.92. Following the completion of the transaction, the president directly owned 519,679 shares of the company’s stock, valued at approximately $10,455,941.48. This represents a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 341,808 shares of company stock valued at $6,758,540 over the last ninety days. Corporate insiders own 18.15% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VTS. Oppenheimer & Co. Inc. lifted its stake in Vitesse Energy by 2.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock valued at $400,000 after buying an additional 530 shares during the period. Ameritas Investment Partners Inc. raised its position in Vitesse Energy by 21.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,011 shares of the company’s stock valued at $67,000 after buying an additional 538 shares during the last quarter. Ausdal Financial Partners Inc. lifted its position in shares of Vitesse Energy by 5.4% in the fourth quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock worth $257,000 after purchasing an additional 690 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Vitesse Energy by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock valued at $576,000 after purchasing an additional 756 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Vitesse Energy by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock valued at $404,000 after acquiring an additional 786 shares during the period. 51.63% of the stock is owned by institutional investors.

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.