Vitesse Energy (NYSE:VTS) Hits New 1-Year Low – Here’s What Happened

Vitesse Energy, Inc. (NYSE:VTS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.80 and last traded at $15.9250, with a volume of 113007 shares trading hands. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VTS shares. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Northland Securities set a $20.00 price objective on Vitesse Energy in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Vitesse Energy Trading Up 0.2%

The firm has a market cap of $670.31 million, a PE ratio of -32.12 and a beta of 0.54. 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 $17.94 and its two-hundred day moving average price is $19.37.

Vitesse Energy Announces Dividend

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 given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s dividend payout ratio is -350.00%.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, Director Joseph S. Steinberg bought 40,882 shares of the company’s stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the transaction, the director directly owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. This represents a 60.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in shares of Vitesse Energy by 203.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock worth $43,000 after acquiring an additional 1,187 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Vitesse Energy by 359.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after acquiring an additional 2,307 shares during the last quarter. Strs Ohio purchased a new stake in Vitesse Energy in the first quarter worth $54,000. Osaic Holdings Inc. increased its stake in Vitesse Energy by 43.5% in the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after purchasing an additional 1,069 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after purchasing an additional 2,432 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other 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.