Vitesse Energy (NYSE:VTS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Vitesse Energy (NYSE:VTS) from a sell rating to a hold rating in a research report report published on Saturday morning.

VTS has been the topic of several other reports. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vitesse Energy in a report on Monday, August 3rd. Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 target price on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Vitesse Energy presently has a consensus rating of “Hold” and an average price target of $19.25.

Vitesse Energy Price Performance

Shares of NYSE:VTS opened at $15.79 on Friday. Vitesse Energy has a 1-year low of $15.00 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 0.56. The business has a fifty day moving average price of $16.10 and a 200-day moving average price of $18.21. The company has a market capitalization of $664.76 million, a PE ratio of -47.85 and a beta of 0.58.

Vitesse Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Vitesse Energy’s payout ratio is -530.30%.

Insiders Place Their Bets

In other news, Director Joseph S. Steinberg purchased 40,882 shares of the stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $16.16 per share, with a total value of $660,653.12. Following the acquisition, the director directly owned 108,500 shares of the company’s stock, valued at $1,753,360. This represents a 60.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.94% of the company’s stock.

Institutional Trading of Vitesse Energy

Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Vitesse Energy by 48.3% in the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock worth $888,000 after purchasing an additional 11,747 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Vitesse Energy by 29.7% during the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after purchasing an additional 5,002 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Vitesse Energy by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock worth $376,000 after purchasing an additional 1,065 shares during the period. Millennium Management LLC lifted its stake in shares of Vitesse Energy by 241.7% in the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock worth $4,415,000 after purchasing an additional 126,991 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Vitesse Energy by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock worth $5,012,000 after buying an additional 9,943 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

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.