Merrion Investment Management Co LLC Sells 10,279 Shares of Vitesse Energy, Inc. $VTS

Merrion Investment Management Co LLC lessened its position in Vitesse Energy, Inc. (NYSE:VTS) by 10.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,571 shares of the company’s stock after selling 10,279 shares during the period. Vitesse Energy comprises approximately 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 22nd biggest holding. Merrion Investment Management Co LLC owned about 0.23% of Vitesse Energy worth $1,934,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Vitesse Energy by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 9,260 shares of the company’s stock valued at $228,000 after purchasing an additional 476 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Vitesse Energy by 51.7% during the first quarter. Nisa Investment Advisors LLC now owns 24,993 shares of the company’s stock worth $615,000 after buying an additional 8,513 shares in the last quarter. Fort Sheridan Advisors LLC increased its holdings in shares of Vitesse Energy by 5.0% during the first quarter. Fort Sheridan Advisors LLC now owns 23,836 shares of the company’s stock worth $586,000 after buying an additional 1,128 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Vitesse Energy by 19.2% in the first quarter. Victory Capital Management Inc. now owns 20,838 shares of the company’s stock valued at $512,000 after acquiring an additional 3,357 shares during the last quarter. Finally, one8zero8 LLC boosted its holdings in shares of Vitesse Energy by 1.6% in the 1st quarter. one8zero8 LLC now owns 135,309 shares of the company’s stock worth $3,327,000 after acquiring an additional 2,103 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VTS shares. Weiss Ratings cut Vitesse Energy from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “sell” rating in a report on Saturday. Evercore ISI lowered their target price on Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Finally, Zacks Research downgraded shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Vitesse Energy Stock Up 0.7%

Shares of NYSE:VTS opened at $21.11 on Friday. Vitesse Energy, Inc. has a 52 week low of $18.90 and a 52 week high of $28.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 0.85. The company has a market capitalization of $816.44 million, a PE ratio of 42.23 and a beta of 0.59. The company has a 50 day moving average price of $23.27 and a two-hundred day moving average price of $23.24.

Vitesse Energy (NYSE:VTS) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%.The firm had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.70 million. Analysts forecast that Vitesse Energy, Inc. will post 1.05 earnings per share for the current year.

Vitesse Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.5625 per share. The ex-dividend date is Monday, December 15th. This represents a $2.25 annualized dividend and a yield of 10.7%. Vitesse Energy’s payout ratio is currently 450.00%.

About Vitesse Energy

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.