Insider Buying: Vitesse Energy (NYSE:VTS) Director Purchases 40,882 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg purchased 40,882 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the acquisition, the director directly owned 108,500 shares in the company, valued at $1,753,360. The trade was a 60.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Vitesse Energy Stock Performance

VTS traded up $0.02 during trading on Wednesday, hitting $16.03. 543,676 shares of the company traded hands, compared to its average volume of 508,221. Vitesse Energy, Inc. has a one year low of $15.80 and a one year high of $27.15. The stock’s fifty day moving average is $17.99 and its 200 day moving average is $19.40. 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 has a market cap of $668.40 million, a P/E ratio of -32.05 and a beta of 0.54.

Vitesse Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s dividend payout ratio is currently -350.00%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Vitesse Energy

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