Vitesse Energy (NYSE:VTS) Sets New 12-Month Low – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $15.80 and last traded at $15.9250, with a volume of 113007 shares trading hands. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

VTS has been the subject of several research analyst reports. Northland Securities set a $20.00 price objective on Vitesse Energy in a report on Wednesday, May 6th. Weiss Ratings cut Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.00.

Vitesse Energy Stock Performance

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The firm has a market cap of $669.24 million, a P/E ratio of -32.09 and a beta of 0.54. The business has a fifty day simple moving average of $17.85 and a 200-day simple moving average of $19.31.

Vitesse Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is presently -350.00%.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg purchased 59,118 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the transaction, the director directly owned 60,552 shares in the company, valued at approximately $1,029,384. The trade was a 4,122.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors and hedge funds have recently made changes to their positions in VTS. Jones Financial Companies Lllp boosted its position in shares of Vitesse Energy by 203.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock worth $43,000 after purchasing an additional 1,187 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in 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 valued at $54,000 after buying an additional 2,307 shares in the last quarter. Strs Ohio bought a new position in Vitesse Energy during the 1st quarter valued at approximately $54,000. Osaic Holdings Inc. raised its stake in Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after buying an additional 1,069 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after buying an additional 2,432 shares during the last quarter. Institutional investors 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.