Gabelli Funds LLC Acquires 101,506 Shares of Vitesse Energy, Inc. $VTS

Gabelli Funds LLC raised its holdings in shares of Vitesse Energy, Inc. (NYSE:VTS) by 58.6% during the first quarter, HoldingsChannel reports. The firm owned 274,804 shares of the company’s stock after purchasing an additional 101,506 shares during the period. Gabelli Funds LLC’s holdings in Vitesse Energy were worth $4,990,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VTS. Strs Ohio purchased a new stake in shares of Vitesse Energy in the 1st quarter worth approximately $54,000. Whittier Trust Co. of Nevada Inc. raised its stake in Vitesse Energy by 359.3% in 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 in the last quarter. Osaic Holdings Inc. raised 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 buying an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 2,432 shares during the period. Finally, Daytona Street Capital LLC purchased a new stake in Vitesse Energy during the fourth quarter worth $154,000. Institutional investors own 51.63% of the company’s stock.

Vitesse Energy Stock Down 3.7%

Shares of Vitesse Energy stock opened at $15.22 on Tuesday. 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 has a market cap of $634.78 million, a P/E ratio of -30.44 and a beta of 0.57. The firm’s 50 day moving average price is $16.51 and its 200-day moving average price is $18.45. Vitesse Energy, Inc. has a 52-week low of $15.01 and a 52-week high of $27.15.

Vitesse Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Monday, June 15th. Vitesse Energy’s payout ratio is currently -350.00%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VTS. Weiss Ratings downgraded Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Zacks Research cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, Northland Securities raised Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price objective on the stock in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vitesse Energy has a consensus rating of “Hold” and a consensus price target of $19.25.

Insider Transactions at Vitesse Energy

In other news, Director Joseph S. Steinberg purchased 59,118 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were acquired at an average cost of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the acquisition, the director owned 60,552 shares of the company’s stock, valued at $1,029,384. This trade represents a 4,122.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.94% 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.