Vitesse Energy (NYSE:VTS) Trading Down 5% – Time to Sell?

Shares of Vitesse Energy, Inc. (NYSE:VTS) fell 5% during trading on Thursday . The company traded as low as $17.27 and last traded at $17.0060. 262,581 shares traded hands during trading, a decline of 47% from the average session volume of 493,282 shares. The stock had previously closed at $17.91.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VTS. Northland Securities set a $20.00 price target on Vitesse Energy in a report on Wednesday, May 6th. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings cut Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Vitesse Energy Stock Down 5.9%

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average price of $18.11 and a 200 day moving average price of $19.52. The company has a market cap of $703.23 million, a PE ratio of -33.92 and a beta of 0.54.

Vitesse Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.4%. Vitesse Energy’s dividend payout ratio is presently -350.00%.

Insider Buying and Selling at Vitesse Energy

In other news, Director Joseph S. Steinberg bought 59,118 shares of Vitesse Energy stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the purchase, the director directly 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 available through this hyperlink. Company insiders own 13.94% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Vitesse Energy by 2,499.3% during the 3rd 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 in the last quarter. Millennium Management LLC grew its position in Vitesse Energy by 2,102.0% during 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 during the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Vitesse Energy by 17.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock worth $29,572,000 after acquiring an additional 193,195 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Vitesse Energy by 585.0% in the 4th quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock worth $3,245,000 after acquiring an additional 143,900 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Vitesse Energy by 85.5% in the 4th quarter. First Trust Advisors LP now owns 252,248 shares of the company’s stock valued at $4,858,000 after purchasing an additional 116,246 shares in the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

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.