Analysts Set Vitesse Energy, Inc. (NYSE:VTS) Target Price at $24.50

Vitesse Energy, Inc. (NYSE:VTS) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.50.

Several analysts recently commented on the company. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Weiss Ratings restated a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th.

Vitesse Energy Trading Up 1.9%

VTS stock opened at $19.89 on Wednesday. Vitesse Energy has a 12-month low of $17.44 and a 12-month high of $27.15. The business’s 50-day moving average is $20.41 and its 200 day moving average is $21.39. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The stock has a market cap of $791.03 million, a price-to-earnings ratio of 31.56 and a beta of 0.68.

Vitesse Energy (NYSE:VTS) last announced its earnings results on Monday, March 2nd. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). The firm had revenue of $58.62 million for the quarter, compared to analyst estimates of $67.10 million. Vitesse Energy had a net margin of 9.23% and a return on equity of 4.38%. On average, sell-side analysts anticipate that Vitesse Energy will post 1.05 EPS for the current fiscal year.

Vitesse Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Monday, March 16th. Vitesse Energy’s dividend payout ratio (DPR) is currently 277.78%.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, President Brian Cree sold 43,216 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $20.12, for a total value of $869,505.92. Following the completion of the sale, the president owned 519,679 shares in the company, valued at approximately $10,455,941.48. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mike Morella sold 5,202 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was 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 directly owned 82,413 shares in the company, valued at $1,658,973.69. This trade represents a 5.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 341,808 shares of company stock valued at $6,758,540. Corporate insiders own 18.15% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Vitesse Energy by 48.3% during the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock worth $888,000 after buying an additional 11,747 shares in the last quarter. AQR Capital Management LLC grew its holdings in Vitesse Energy by 29.7% in the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after buying an additional 5,002 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Vitesse Energy by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after buying an additional 1,065 shares in the last quarter. Millennium Management LLC increased its stake in shares of Vitesse Energy by 241.7% in the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock worth $4,415,000 after acquiring an additional 126,991 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Vitesse Energy by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock worth $5,012,000 after acquiring an additional 9,943 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.