Vitesse Energy, Inc. (NYSE:VTS) Stock Has Consensus Target Price of $20.50

Shares of Vitesse Energy, Inc. (NYSE:VTS) have earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.50.

Several research analysts have commented on the stock. Weiss Ratings lowered shares of Vitesse Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Vitesse Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a research note on Thursday, September 17th. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Finally, Northland Securities set a $20.50 target price on shares of Vitesse Energy in a report on Thursday, September 17th.

Institutional Trading of Vitesse Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Vitesse Energy by 162.3% in the first quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after purchasing an additional 86,777 shares during the last quarter. Norris Financial Group LLC purchased a new position in shares of Vitesse Energy during the first quarter valued at approximately $1,394,000. Gabelli Funds LLC boosted its position in shares of Vitesse Energy by 58.6% during the first quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock valued at $4,990,000 after buying an additional 101,506 shares during the period. Corient Private Wealth LP bought a new position in shares of Vitesse Energy during the second quarter valued at approximately $928,000. Finally, First Trust Advisors LP grew its stake in shares of Vitesse Energy by 33.9% during the first quarter. First Trust Advisors LP now owns 337,885 shares of the company’s stock valued at $6,136,000 after buying an additional 85,637 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Stock Performance

NYSE:VTS opened at $18.28 on Friday. The stock’s fifty day moving average is $17.24 and its 200 day moving average is $17.12. Vitesse Energy has a fifty-two week low of $15.00 and a fifty-two week high of $22.91. The firm has a market capitalization of $769.63 million, a PE ratio of -55.40 and a beta of 0.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06.

Vitesse Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 9.6%. The ex-dividend date was Tuesday, September 15th. Vitesse Energy’s dividend payout ratio is presently -530.30%.

About Vitesse Energy

Vitesse Energy, Inc is an oil and gas company that owns non-operated working interests and mineral interests in wells drilled and operated by other exploration and production companies. Rather than managing drilling operations directly, Vitesse provides capital to acquire interests in producing and development-stage properties while relying on its operating partners to handle drilling, completion, production and field operations.

The company’s portfolio is focused primarily on U.S. oil-producing regions, including the Williston Basin and other major onshore basins.