Northland Securities Upgrades Vitesse Energy (NYSE:VTS) to “Outperform”

Vitesse Energy (NYSE:VTS) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $18.50 target price on the stock. Northland Securities’ price objective points to a potential upside of 16.39% from the stock’s previous close.

A number of other research firms have also recently commented on VTS. Weiss Ratings cut Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Zacks Research cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.25.

Vitesse Energy Stock Down 0.1%

VTS opened at $15.89 on Thursday. Vitesse Energy has a fifty-two week low of $15.01 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average of $16.68 and a two-hundred day moving average of $18.53. The stock has a market capitalization of $662.98 million, a price-to-earnings ratio of -31.79 and a beta of 0.57.

Insiders Place Their Bets

In related news, Director Joseph S. Steinberg bought 59,118 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $1,005,006.00. Following the completion of the transaction, the director directly owned 60,552 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in Vitesse Energy during the 1st quarter worth approximately $54,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 acquiring an additional 2,307 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of 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 acquiring an additional 1,069 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 2,432 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new position in Vitesse Energy in the 4th quarter valued at $154,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

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.