Vitesse Energy (NYSE:VTS) Stock Price Down 6.9% – Time to Sell?

Shares of Vitesse Energy, Inc. (NYSE:VTS) dropped 6.9% on Wednesday . The stock traded as low as $17.55 and last traded at $17.4850. Approximately 422,300 shares changed hands during trading, a decline of 15% from the average daily volume of 496,601 shares. The stock had previously closed at $18.78.

Analyst Ratings Changes

VTS has been the topic of several recent research reports. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.67.

Vitesse Energy Stock Performance

The firm’s 50-day moving average price is $20.14 and its two-hundred day moving average price is $20.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $688.31 million, a price-to-earnings ratio of 27.50 and a beta of 0.69.

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

Vitesse Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a $0.4375 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.75 dividend on an annualized basis and a yield of 10.1%. Vitesse Energy’s dividend payout ratio is presently 277.78%.

Insider Buying and Selling at Vitesse Energy

In other Vitesse Energy news, CAO Mike Morella sold 5,202 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $20.13, for a total value of $104,716.26. Following the transaction, the chief accounting officer owned 82,413 shares of the company’s stock, valued at $1,658,973.69. This represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert W. Gerrity sold 90,737 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $20.14, for a total transaction of $1,827,443.18. Following the completion of the transaction, the chief executive officer directly owned 514,693 shares in the company, valued at $10,365,917.02. The trade was a 14.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 341,808 shares of company stock valued at $6,758,540 over the last 90 days. 18.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Vitesse Energy by 2,499.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company’s stock valued at $9,757,000 after buying an additional 403,843 shares during the last quarter. Millennium Management LLC lifted its position in Vitesse Energy by 2,102.0% in the third quarter. Millennium Management LLC now owns 204,350 shares of the company’s stock valued at $4,747,000 after buying an additional 195,070 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its position in Vitesse Energy by 17.9% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock valued at $29,572,000 after buying an additional 193,195 shares during the last quarter. Renaissance Technologies LLC lifted its position in Vitesse Energy by 585.0% in the fourth quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock valued at $3,245,000 after buying an additional 143,900 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Vitesse Energy by 85.5% during the fourth quarter. First Trust Advisors LP now owns 252,248 shares of the company’s stock worth $4,858,000 after purchasing an additional 116,246 shares during the period. Institutional investors and hedge funds own 51.63% of the company’s stock.

Vitesse Energy Company Profile

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.