Norris Financial Group LLC purchased a new stake in Vitesse Energy, Inc. (NYSE:VTS – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,742 shares of the company’s stock, valued at approximately $1,394,000.
Other hedge funds have also recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Vitesse Energy in the 1st quarter valued at approximately $54,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Vitesse Energy by 359.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock worth $54,000 after buying an additional 2,307 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after buying an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Vitesse Energy by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after buying an additional 2,432 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new stake in shares of Vitesse Energy in the fourth quarter worth $154,000. Institutional investors and hedge funds own 51.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 target price on the stock in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.25.
Vitesse Energy Price Performance
VTS opened at $15.29 on Friday. 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 company’s 50-day moving average price is $16.32 and its 200 day moving average price is $18.36. Vitesse Energy, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $27.15. The firm has a market cap of $637.54 million, a price-to-earnings ratio of -30.57 and a beta of 0.57.
Vitesse Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date is Tuesday, September 15th. Vitesse Energy’s dividend payout ratio is presently -350.00%.
Insider Buying and Selling at Vitesse Energy
In related news, Director Joseph S. Steinberg purchased 40,882 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $16.16 per share, with a total value of $660,653.12. Following the acquisition, the director owned 108,500 shares in the company, valued at approximately $1,753,360. This trade represents a 60.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.94% 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.
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