Vitesse Energy (NYSE:VTS) Hits New 52-Week Low – Here’s What Happened

Vitesse Energy, Inc. (NYSE:VTS)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $15.00 and last traded at $15.0160, with a volume of 443797 shares. The stock had previously closed at $15.24.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Northland Securities raised shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.25.

Vitesse Energy Stock Down 1.1%

The firm has a market cap of $637.54 million, a P/E ratio of -30.48 and a beta of 0.57. The firm’s 50-day moving average price is $16.38 and its 200 day moving average price is $18.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Vitesse Energy’s dividend payout ratio (DPR) is currently -350.00%.

Insider Activity at Vitesse Energy

In other news, Director Joseph S. Steinberg bought 59,118 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $17.00 per share, for a total transaction of $1,005,006.00. Following the transaction, the director owned 60,552 shares in the company, valued at $1,029,384. The trade was a 4,122.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.94% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. lifted its position in shares of Vitesse Energy by 13.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock worth $27,706,000 after buying an additional 165,534 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Vitesse Energy by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock valued at $27,363,000 after buying an additional 69,477 shares during the last quarter. State Street Corp raised its stake in Vitesse Energy by 3.3% during the fourth quarter. State Street Corp now owns 1,015,971 shares of the company’s stock worth $19,568,000 after acquiring an additional 32,790 shares during the period. Geode Capital Management LLC lifted its holdings in Vitesse Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock worth $13,536,000 after acquiring an additional 3,364 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.