Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – Here’s Why

Shares of Vitesse Energy, Inc. (NYSE:VTS) reached a new 52-week low on Monday . The stock traded as low as $15.18 and last traded at $15.4160, with a volume of 60937 shares trading hands. The stock had previously closed at $15.48.

Wall Street Analyst Weigh In

VTS has been the topic of a number of recent research reports. Weiss Ratings cut shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Zacks Research cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, Northland Securities set a $20.00 price objective on shares of Vitesse Energy in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Vitesse Energy presently has an average rating of “Reduce” and an average target price of $20.00.

Vitesse Energy Trading Down 1.3%

The firm has a market capitalization of $637.50 million, a price-to-earnings ratio of -30.55 and a beta of 0.57. The business’s 50 day moving average price is $17.38 and its 200-day moving average price is $18.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

Vitesse Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend was Monday, June 15th. Vitesse Energy’s payout ratio is currently -350.00%.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg bought 59,118 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $17.00 per share, for a total transaction of $1,005,006.00. Following the transaction, the director owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. This trade represents a 4,122.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.94% of the company’s stock.

Institutional Trading of Vitesse Energy

A number of institutional investors have recently modified their holdings of VTS. Strs Ohio acquired a new position in Vitesse Energy during the first quarter worth $54,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Vitesse Energy by 359.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock worth $54,000 after purchasing an additional 2,307 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Vitesse Energy by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after purchasing an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Vitesse Energy by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after purchasing an additional 2,432 shares during the period. Finally, Daytona Street Capital LLC acquired a new position in shares of Vitesse Energy during the 4th quarter worth $154,000. 51.63% of the stock is currently owned by hedge funds and other 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.