Vitesse Energy (NYSE:VTS) Shares Down 9.2% – What’s Next?

Vitesse Energy, Inc. (NYSE:VTS) shares fell 9.2% on Thursday . The stock traded as low as $20.38 and last traded at $20.0960. 147,178 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 365,703 shares. The stock had previously closed at $22.12.

Analysts Set New Price Targets

Several brokerages have commented on VTS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday, December 29th. Wall Street Zen raised shares of Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Vitesse Energy presently has an average rating of “Hold” and an average price target of $24.50.

Vitesse Energy Price Performance

The company has a market cap of $759.52 million, a PE ratio of 39.31 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $20.38 and its 200 day moving average is $22.12.

Vitesse Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 8.9%. The ex-dividend date is Monday, March 16th. Vitesse Energy’s payout ratio is 450.00%.

Insiders Place Their Bets

In other Vitesse Energy news, CAO Mike Morella sold 5,202 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $20.13, for a total value of $104,716.26. Following the completion of the sale, the chief accounting officer owned 82,413 shares of the company’s stock, valued at approximately $1,658,973.69. This trade represents a 5.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Brian Cree sold 1,440 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $19.69, for a total transaction of $28,353.60. Following the transaction, the president owned 464,225 shares in the company, valued at approximately $9,140,590.25. This trade represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 341,808 shares of company stock valued at $6,758,540. 18.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vitesse Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its holdings in shares of Vitesse Energy by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock worth $400,000 after purchasing an additional 530 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Vitesse Energy by 21.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,011 shares of the company’s stock valued at $67,000 after purchasing an additional 538 shares in the last quarter. Ausdal Financial Partners Inc. boosted its holdings in Vitesse Energy by 5.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock worth $257,000 after buying an additional 690 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Vitesse Energy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock valued at $576,000 after purchasing an additional 756 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Vitesse Energy by 3.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock valued at $404,000 after buying an additional 786 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.