Vitesse Energy (NYSE:VTS) Hits New 52-Week High – Still a Buy?

Vitesse Energy, Inc. (NYSE:VTS) shares reached a new 52-week high on Wednesday . The company traded as high as $26.94 and last traded at $26.94, with a volume of 3634 shares trading hands. The stock had previously closed at $26.26.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners downgraded shares of Vitesse Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Wednesday.

Vitesse Energy Stock Performance

The business’s fifty day moving average price is $24.98 and its two-hundred day moving average price is $24.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.75. The stock has a market capitalization of $816.19 million, a P/E ratio of 18.92 and a beta of 0.22.

Vitesse Energy (NYSE:VTS) last posted its earnings results on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $66.60 million during the quarter, compared to the consensus estimate of $63.89 million. Vitesse Energy had a return on equity of 7.25% and a net margin of 18.05%.

Vitesse Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.10 annualized dividend and a yield of 7.60%. Vitesse Energy’s payout ratio is 143.84%.

Insider Buying and Selling at Vitesse Energy

In related news, CEO Robert W. Gerrity acquired 10,000 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $24.73 per share, with a total value of $247,300.00. Following the transaction, the chief executive officer now directly owns 495,311 shares in the company, valued at approximately $12,249,041.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in shares of Vitesse Energy by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,689 shares of the company’s stock worth $230,000 after purchasing an additional 492 shares during the period. Inlet Private Wealth LLC raised its stake in shares of Vitesse Energy by 0.9% during the 2nd quarter. Inlet Private Wealth LLC now owns 56,251 shares of the company’s stock worth $1,333,000 after acquiring an additional 500 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Vitesse Energy by 0.3% during the 1st quarter. Ancora Advisors LLC now owns 177,952 shares of the company’s stock worth $4,223,000 after acquiring an additional 578 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Vitesse Energy by 54.5% during the 3rd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Vitesse Energy by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,113 shares of the company’s stock worth $263,000 after acquiring an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

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.