Vitesse Energy (NYSE:VTS) Hits New 52-Week High – Still a Buy?

Vitesse Energy, Inc. (NYSE:VTS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.94 and last traded at $26.94, with a volume of 3634 shares trading hands. The stock had previously closed at $26.26.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered shares of Vitesse Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research note on Wednesday.

Vitesse Energy Price Performance

The stock has a market cap of $816.19 million, a price-to-earnings ratio of 18.92 and a beta of 0.22. The stock’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $24.55. The company has a quick ratio of 0.83, a current ratio of 0.75 and a debt-to-equity ratio of 0.20.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings data on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $66.60 million during the quarter, compared to analyst estimates of $63.89 million. Vitesse Energy had a return on equity of 7.25% and a net margin of 18.05%.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.60%. Vitesse Energy’s payout ratio is currently 143.84%.

Insider Buying and Selling

In related news, CEO Robert W. Gerrity acquired 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $24.73 per share, with a total value of $247,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 495,311 shares in the company, valued at approximately $12,249,041.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC purchased a new position in Vitesse Energy during the third quarter worth about $34,000. Victory Capital Management Inc. acquired a new position in shares of Vitesse Energy in the third quarter valued at approximately $254,000. Oxbow Advisors LLC grew its holdings in shares of Vitesse Energy by 5.5% in the third quarter. Oxbow Advisors LLC now owns 26,949 shares of the company’s stock valued at $647,000 after purchasing an additional 1,412 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Vitesse Energy in the third quarter valued at approximately $1,326,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Vitesse Energy by 146.9% in the third quarter. Harbor Capital Advisors Inc. now owns 179,724 shares of the company’s stock valued at $4,317,000 after purchasing an additional 106,927 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Company Profile

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.