Vitesse Energy (NYSE:VTS) Director Joseph Steinberg Buys 59,118 Shares

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg acquired 59,118 shares of Vitesse Energy stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the purchase, the director owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. This represents a 4,122.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Vitesse Energy Trading Up 2.7%

Shares of Vitesse Energy stock opened at $17.75 on Tuesday. Vitesse Energy, Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $740.35 million, a P/E ratio of -35.50 and a beta of 0.55. The company has a fifty day moving average of $18.27 and a 200 day moving average of $19.68.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The business had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.71 million. Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. On average, sell-side analysts anticipate that Vitesse Energy, Inc. will post -0.75 earnings per share for the current fiscal year.

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 issued a $0.4375 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 9.9%. Vitesse Energy’s payout ratio is currently -350.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on VTS. Northland Securities set a $20.00 price objective on shares of Vitesse Energy in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Vitesse Energy has a consensus rating of “Hold” and a consensus price target of $20.00.

Institutional Investors Weigh In On Vitesse Energy

A number of hedge funds have recently bought and sold shares of VTS. Oppenheimer & Co. Inc. lifted its position in Vitesse Energy by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock valued at $400,000 after purchasing an additional 530 shares during the last quarter. Ausdal Financial Partners Inc. raised its position in shares of Vitesse Energy by 5.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock valued at $257,000 after buying an additional 690 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Vitesse Energy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock valued at $576,000 after acquiring an additional 756 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Vitesse Energy by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock valued at $404,000 after acquiring an additional 786 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vitesse Energy by 5.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,158 shares of the company’s stock worth $357,000 after acquiring an additional 861 shares in the last quarter. Hedge funds and other 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.