Insider Buying: Vitesse Energy (NYSE:VTS) Director Acquires 59,118 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg bought 59,118 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $1,005,006.00. Following the completion of the acquisition, the director owned 60,552 shares in the company, valued at $1,029,384. This represents a 4,122.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Vitesse Energy Stock Up 2.7%

VTS stock traded up $0.47 during midday trading on Monday, reaching $17.75. 501,849 shares of the company’s stock traded hands, compared to its average volume of 493,274. 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 firm’s fifty day moving average price is $18.31 and its 200-day moving average price is $19.71. Vitesse Energy, Inc. has a 52 week low of $16.91 and a 52 week high of $27.15. The company has a market cap of $740.35 million, a price-to-earnings ratio of -35.50 and a beta of 0.55.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The business had revenue of $67.41 million during the quarter, compared to the consensus estimate of $66.71 million. Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. As a group, sell-side analysts forecast that Vitesse Energy, Inc. will post -0.75 earnings per share for the current fiscal year.

Vitesse Energy Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 annualized dividend and a yield of 9.9%. Vitesse Energy’s dividend payout ratio (DPR) is presently -350.00%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Vitesse Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vitesse Energy by 2,499.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company’s stock worth $9,757,000 after buying an additional 403,843 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Vitesse Energy by 2,102.0% in the third quarter. Millennium Management LLC now owns 204,350 shares of the company’s stock valued at $4,747,000 after acquiring an additional 195,070 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Vitesse Energy by 17.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock valued at $29,572,000 after acquiring an additional 193,195 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Vitesse Energy by 585.0% during the fourth quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock valued at $3,245,000 after acquiring an additional 143,900 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Vitesse Energy by 85.5% during the fourth quarter. First Trust Advisors LP now owns 252,248 shares of the company’s stock worth $4,858,000 after acquiring an additional 116,246 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

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.