Insider Buying: Vitesse Energy (NYSE:VTS) Director Purchases $660,653.12 in Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg acquired 40,882 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the purchase, the director directly owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vitesse Energy Trading Up 0.2%

Shares of NYSE:VTS opened at $16.05 on Friday. The stock has a 50 day moving average of $17.85 and a 200 day moving average of $19.31. The company has a market cap of $669.24 million, a PE ratio of -32.09 and a beta of 0.54. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. Vitesse Energy, Inc. has a 12-month low of $15.80 and a 12-month high of $27.15.

Vitesse Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 annualized dividend and a yield of 10.9%. Vitesse Energy’s payout ratio is currently -350.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VTS. Jones Financial Companies Lllp increased its holdings in shares of Vitesse Energy by 203.6% in the third quarter. Jones Financial Companies Lllp now owns 1,770 shares of the company’s stock worth $43,000 after purchasing an additional 1,187 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Vitesse Energy by 359.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after buying an additional 2,307 shares during the last quarter. Strs Ohio bought a new position in Vitesse Energy during the first quarter valued at approximately $54,000. Osaic Holdings Inc. grew its holdings in Vitesse Energy by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after buying an additional 1,069 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Vitesse Energy by 179.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after buying an additional 2,432 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.