Vitesse Energy (NYSE:VTS) Sets New 1-Year Low – Time to Sell?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $15.76 and last traded at $16.17, with a volume of 506547 shares traded. The stock had previously closed at $15.99.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Northland Securities set a $20.00 price target on shares of Vitesse Energy in a research report on Wednesday, May 6th. Weiss Ratings cut shares of 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.00.

Vitesse Energy Price Performance

The firm has a market capitalization of $674.45 million, a P/E ratio of -32.34 and a beta of 0.54. The company has a fifty day moving average of $17.77 and a 200 day moving average of $19.22. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.4375 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.8%. Vitesse Energy’s payout ratio is -350.00%.

Insider Activity at Vitesse Energy

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

Institutional Trading of Vitesse Energy

Institutional investors have recently bought and sold shares of the company. Norris Financial Group LLC bought a new position in shares of Vitesse Energy in the 1st quarter worth about $1,394,000. Bank of America Corp DE boosted its position in shares of Vitesse Energy by 162.3% during the 1st quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock valued at $2,547,000 after purchasing an additional 86,777 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Vitesse Energy by 78.9% during the 1st quarter. Quantinno Capital Management LP now owns 35,294 shares of the company’s stock valued at $641,000 after purchasing an additional 15,562 shares in the last quarter. Gabelli Funds LLC grew its stake in Vitesse Energy by 58.6% during the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock worth $4,990,000 after purchasing an additional 101,506 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Vitesse Energy during the first quarter worth approximately $188,000. 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.