Vitesse Energy, Inc. (NYSE:VTS – Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $15.76 and last traded at $16.17, with a volume of 506547 shares changing hands. The stock had previously closed at $15.99.
Analyst Upgrades and Downgrades
VTS has been the topic of several research analyst reports. Northland Securities set a $20.00 price objective on Vitesse Energy in a research note on Wednesday, May 6th. Weiss Ratings cut 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 downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.
Read Our Latest Stock Analysis on VTS
Vitesse Energy Trading Down 0.7%
Vitesse Energy Dividend Announcement
The company also recently disclosed 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. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.
Insiders Place Their Bets
In other news, Director Joseph S. Steinberg bought 40,882 shares of Vitesse Energy stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $16.16 per share, with a total value of $660,653.12. Following the purchase, the director directly owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. This trade represents a 60.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.94% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Vitesse Energy
A number of hedge funds have recently made changes to their positions in VTS. Whittier Trust Co. of Nevada Inc. boosted 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 during the period. Strs Ohio acquired a new stake in Vitesse Energy in the 1st quarter valued at approximately $54,000. Osaic Holdings Inc. raised its stake in Vitesse Energy by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after acquiring an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Vitesse Energy by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after acquiring an additional 2,432 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new position in Vitesse Energy during the 4th quarter worth $154,000. 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.
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