Wall Street Zen upgraded shares of Vitesse Energy (NYSE:VTS – Free Report) from a sell rating to a hold rating in a research note published on Saturday.
VTS has been the subject of a number of other research reports. Zacks Research cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vitesse Energy in a research note on Monday, August 3rd. Northland Securities upgraded Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price objective for the company in a report on Thursday, July 23rd. Finally, Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Vitesse Energy has a consensus rating of “Hold” and an average target price of $19.25.
View Our Latest Research Report on Vitesse Energy
Vitesse Energy Stock Up 2.3%
Vitesse Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.8%. Vitesse Energy’s dividend payout ratio (DPR) is currently -530.30%.
Insider Activity
In other Vitesse Energy news, Director Joseph S. Steinberg bought 59,118 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 13.94% of the company’s stock.
Institutional Trading of Vitesse Energy
Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Vitesse Energy by 48.3% in the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock worth $888,000 after buying an additional 11,747 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Vitesse Energy by 29.7% during the first quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after buying an additional 5,002 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Vitesse Energy by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after acquiring an additional 1,065 shares in the last quarter. Millennium Management LLC increased its position in shares of Vitesse Energy by 241.7% during the first quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock valued at $4,415,000 after acquiring an additional 126,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Vitesse Energy by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock worth $5,012,000 after acquiring an additional 9,943 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.
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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