Vitesse Energy (NYSE:VTS) Rating Lowered to “Strong Sell” at Zacks Research

Vitesse Energy (NYSE:VTS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Northland Securities set a $20.00 price target on shares of Vitesse Energy in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $20.00.

Vitesse Energy Price Performance

Vitesse Energy stock opened at $15.49 on Wednesday. The stock has a market capitalization of $646.30 million, a P/E ratio of -30.99 and a beta of 0.57. The company’s fifty day moving average price is $17.43 and its 200 day moving average price is $18.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. Vitesse Energy has a 1 year low of $15.42 and a 1 year high of $27.15.

Insider Activity at Vitesse Energy

In related news, Director Joseph S. Steinberg purchased 40,882 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $16.16 per share, with a total value of $660,653.12. Following the completion of the acquisition, the director owned 108,500 shares in the company, valued at $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Punch & Associates Investment Management Inc. lifted its holdings in Vitesse Energy by 13.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock valued at $27,706,000 after acquiring an additional 165,534 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Vitesse Energy by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock worth $27,363,000 after purchasing an additional 69,477 shares during the period. State Street Corp increased its stake in Vitesse Energy by 3.3% during the fourth quarter. State Street Corp now owns 1,015,971 shares of the company’s stock worth $19,568,000 after purchasing an additional 32,790 shares during the period. American Century Companies Inc. lifted its position in shares of Vitesse Energy by 12.9% during the third quarter. American Century Companies Inc. now owns 954,590 shares of the company’s stock worth $22,175,000 after purchasing an additional 108,742 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Vitesse Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock worth $13,536,000 after purchasing an additional 3,364 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.