Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – Time to Sell?

Vitesse Energy, Inc. (NYSE:VTS) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.73 and last traded at $16.7730, with a volume of 1166857 shares traded. The stock had previously closed at $17.91.

Analysts Set New Price Targets

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

Vitesse Energy Price Performance

The company has a market capitalization of $699.60 million, a price-to-earnings ratio of -33.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day moving average price of $18.08 and a 200 day moving average price of $19.50.

Vitesse Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg purchased 59,118 shares of the stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.94% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VTS. Norris Financial Group LLC acquired a new position in Vitesse Energy during the first quarter worth about $1,394,000. Bank of America Corp DE grew its holdings in Vitesse Energy by 162.3% during the first quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after acquiring an additional 86,777 shares during the period. Quantinno Capital Management LP grew its holdings in Vitesse Energy by 78.9% during the first quarter. Quantinno Capital Management LP now owns 35,294 shares of the company’s stock worth $641,000 after acquiring an additional 15,562 shares during the period. Gabelli Funds LLC grew its holdings 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 acquiring an additional 101,506 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Vitesse Energy during the first quarter worth about $188,000. 51.63% of the stock is owned by institutional investors and hedge funds.

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.