Insider Selling: Vitesse Energy (NYSE:VTS) CAO Sells 5,202 Shares of Stock

Vitesse Energy, Inc. (NYSE:VTS) CAO Mike Morella sold 5,202 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $20.13, for a total transaction of $104,716.26. Following the completion of the transaction, the chief accounting officer owned 82,413 shares of the company’s stock, valued at $1,658,973.69. This trade represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Vitesse Energy Price Performance

Vitesse Energy stock traded down $0.54 during midday trading on Friday, reaching $19.22. 388,662 shares of the stock were exchanged, compared to its average volume of 391,718. Vitesse Energy, Inc. has a 52 week low of $18.84 and a 52 week high of $27.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $743.24 million, a PE ratio of 38.44 and a beta of 0.64. The company’s fifty day moving average is $20.47 and its 200-day moving average is $22.68.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.13). The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.70 million. Vitesse Energy had a return on equity of 5.71% and a net margin of 7.70%. On average, sell-side analysts forecast that Vitesse Energy, Inc. will post 1.05 EPS for the current year.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 11.7%. The ex-dividend date was Monday, December 15th. Vitesse Energy’s dividend payout ratio is 450.00%.

Institutional Investors Weigh In On Vitesse Energy

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vitesse Energy by 2,499.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company’s stock valued at $9,757,000 after buying an additional 403,843 shares during the period. Millennium Management LLC boosted its holdings in 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 Vitesse Energy by 17.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock valued at $29,572,000 after purchasing an additional 193,195 shares during the period. First Wilshire Securities Management Inc. increased its position in Vitesse Energy by 539.7% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 223,754 shares of the company’s stock valued at $4,943,000 after purchasing an additional 188,774 shares during the period. Finally, American Century Companies Inc. raised its holdings in Vitesse Energy by 20.0% in the 2nd quarter. American Century Companies Inc. now owns 845,848 shares of the company’s stock worth $18,685,000 after purchasing an additional 140,768 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Vitesse Energy from $22.00 to $20.00 and set an “in-line” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a research note on Monday, December 29th. Zacks Research lowered Vitesse Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.50.

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.