Brokerages Set Vitesse Energy, Inc. (NYSE:VTS) PT at $24.50

Vitesse Energy, Inc. (NYSE:VTS) has been given an average rating of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.50.

Several research analysts have recently issued reports on the stock. Zacks Research lowered shares of Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen raised shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Finally, Evercore ISI cut their price target on Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th.

Vitesse Energy Stock Up 4.2%

NYSE VTS opened at $19.74 on Friday. The stock has a market capitalization of $763.35 million, a P/E ratio of 39.48 and a beta of 0.64. Vitesse Energy has a 52 week low of $18.84 and a 52 week high of $27.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $20.61 and a 200-day moving average of $22.78.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.13). The firm had revenue of $67.44 million for the quarter, compared to analyst estimates of $65.70 million. Vitesse Energy had a net margin of 7.70% and a return on equity of 5.71%. On average, equities research analysts forecast that Vitesse Energy will post 1.05 EPS for the current year.

Vitesse Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.5625 per share. The ex-dividend date was Monday, December 15th. This represents a $2.25 dividend on an annualized basis and a yield of 11.4%. Vitesse Energy’s dividend payout ratio (DPR) is 450.00%.

Institutional Trading of Vitesse Energy

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Vitesse Energy by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 208,250 shares of the company’s stock valued at $4,838,000 after purchasing an additional 5,356 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Vitesse Energy by 4.4% in the third quarter. CIBC Private Wealth Group LLC now owns 30,965 shares of the company’s stock worth $719,000 after purchasing an additional 1,306 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Vitesse Energy during the third quarter worth $793,000. NewEdge Advisors LLC grew its holdings in shares of Vitesse Energy by 3,348.1% in the 3rd quarter. NewEdge Advisors LLC now owns 17,551 shares of the company’s stock valued at $408,000 after buying an additional 17,042 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Vitesse Energy in the 3rd quarter valued at $700,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

About Vitesse Energy

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.