Vitesse Energy (NYSE:VTS) Stock Rating Lowered by Wall Street Zen

Vitesse Energy (NYSE:VTS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.50.

Vitesse Energy Stock Up 1.2%

Shares of VTS opened at $19.50 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $775.71 million, a P/E ratio of 30.95 and a beta of 0.68. The firm has a fifty day moving average price of $20.37 and a 200-day moving average price of $21.84. Vitesse Energy has a 12-month low of $17.44 and a 12-month high of $27.15.

Vitesse Energy (NYSE:VTS) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.12). Vitesse Energy had a net margin of 9.23% and a return on equity of 4.38%. The firm had revenue of $58.62 million for the quarter, compared to analysts’ expectations of $67.10 million. Equities research analysts expect that Vitesse Energy will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Robert W. Gerrity sold 90,737 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $20.14, for a total transaction of $1,827,443.18. Following the completion of the sale, the chief executive officer directly owned 514,693 shares in the company, valued at approximately $10,365,917.02. The trade was a 14.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Brian Cree sold 43,216 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $20.12, for a total transaction of $869,505.92. Following the sale, the president directly owned 519,679 shares of the company’s stock, valued at approximately $10,455,941.48. This represents a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 341,808 shares of company stock worth $6,758,540 in the last 90 days. Insiders own 18.15% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Vitesse Energy by 2,499.3% in the third 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 during the last quarter. Millennium Management LLC raised its position in Vitesse Energy by 2,102.0% in the 3rd quarter. Millennium Management LLC now owns 204,350 shares of the company’s stock valued at $4,747,000 after purchasing an additional 195,070 shares during the last quarter. Punch & Associates Investment Management Inc. boosted 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 buying an additional 193,195 shares during the period. First Wilshire Securities Management Inc. lifted its position in Vitesse Energy by 539.7% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 223,754 shares of the company’s stock worth $4,943,000 after acquiring an additional 188,774 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Vitesse Energy by 585.0% during the fourth quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock worth $3,245,000 after purchasing an additional 143,900 shares during the period. Hedge funds and other institutional investors 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.