Vitesse Energy (NYSE:VTS) Sets New 1-Year Low – Time to Sell?

Shares of Vitesse Energy, Inc. (NYSE:VTS) hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.76 and last traded at $16.17, with a volume of 506547 shares traded. The stock had previously closed at $15.99.

Wall Street Analyst Weigh In

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

Vitesse Energy Trading Up 1.1%

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 firm has a fifty day simple moving average of $17.77 and a 200-day simple moving average of $19.22. The firm has a market cap of $674.45 million, a P/E ratio of -32.34 and a beta of 0.54.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s dividend payout ratio is presently -350.00%.

Insider Activity

In other Vitesse Energy news, Director Joseph S. Steinberg purchased 59,118 shares of Vitesse Energy stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the transaction, the director owned 60,552 shares in the company, valued at $1,029,384. This trade represents a 4,122.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. increased its position in shares of Vitesse Energy by 13.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock worth $27,706,000 after acquiring an additional 165,534 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Vitesse Energy by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock valued at $27,363,000 after acquiring an additional 69,477 shares in the last quarter. State Street Corp lifted its position in Vitesse Energy by 3.3% in the 4th quarter. State Street Corp now owns 1,015,971 shares of the company’s stock valued at $19,568,000 after acquiring an additional 32,790 shares in the last quarter. American Century Companies Inc. boosted its stake in Vitesse Energy by 12.9% during the 3rd quarter. American Century Companies Inc. now owns 954,590 shares of the company’s stock valued at $22,175,000 after purchasing an additional 108,742 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Vitesse Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 702,660 shares of the company’s stock worth $13,536,000 after purchasing an additional 3,364 shares in 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.