Vitesse Energy (NYSE:VTS) Hits New 52-Week Low – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS) shares reached a new 52-week low on Friday . The stock traded as low as $21.75 and last traded at $21.86, with a volume of 392439 shares trading hands. The stock had previously closed at $23.96.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VTS. Northland Securities upped their target price on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and set a $28.00 price objective on shares of Vitesse Energy in a report on Wednesday, March 19th. Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a research note on Thursday, January 16th. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th. Finally, Roth Mkm lifted their price objective on Vitesse Energy from $30.50 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vitesse Energy presently has a consensus rating of “Buy” and an average target price of $30.25.

Vitesse Energy Stock Down 9.5 %

The firm’s 50-day simple moving average is $25.20 and its 200 day simple moving average is $25.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $836.37 million, a P/E ratio of 14.85 and a beta of 0.56.

Vitesse Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 21st were paid a $0.5625 dividend. This is a positive change from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, March 21st. This represents a $2.25 annualized dividend and a yield of 10.38%. Vitesse Energy’s dividend payout ratio is presently 351.56%.

Insider Transactions at Vitesse Energy

In other news, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total transaction of $179,263.80. Following the transaction, the vice president now directly owns 63,411 shares of the company’s stock, valued at $1,693,073.70. This trade represents a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mike Morella sold 8,143 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total transaction of $217,336.67. Following the completion of the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. This represents a 9.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.15% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in Vitesse Energy during the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Vitesse Energy during the third quarter worth $78,000. R Squared Ltd bought a new stake in shares of Vitesse Energy during the fourth quarter worth $79,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Vitesse Energy during the fourth quarter worth $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vitesse Energy by 143.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock valued at $150,000 after acquiring an additional 3,679 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Vitesse Energy Company Profile

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.