Evercore ISI Reaffirms “In-Line” Rating for Vitesse Energy (NYSE:VTS)

Evercore ISI reiterated their in-line rating on shares of Vitesse Energy (NYSE:VTS) in a research note published on Wednesday morning, MarketBeat.com reports. They currently have a $28.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Northland Capmk raised shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Finally, Northland Securities upped their target price on Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th.

Vitesse Energy Stock Down 4.3 %

VTS opened at $22.92 on Wednesday. The company has a market cap of $884.25 million, a PE ratio of 15.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. Vitesse Energy has a 1 year low of $21.83 and a 1 year high of $28.41. The firm has a 50 day moving average price of $25.72 and a 200 day moving average price of $25.73.

Vitesse Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a dividend yield of 9.82%. Vitesse Energy’s dividend payout ratio is 351.56%.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, VP Michael Sabol sold 6,714 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $26.70, for a total value of $179,263.80. Following the transaction, the vice president now directly owns 63,411 shares of the company’s stock, valued at $1,693,073.70. This represents a 9.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mike Morella sold 8,143 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total value of $217,336.67. Following the transaction, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at approximately $2,178,304.35. This trade represents a 9.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Vitesse Energy

Several institutional investors have recently added to or reduced their stakes in VTS. Meeder Asset Management Inc. acquired a new position in Vitesse Energy during the 4th quarter worth $29,000. Quest Partners LLC acquired a new position in Vitesse Energy in the third quarter worth about $34,000. R Squared Ltd bought a new stake in Vitesse Energy in the fourth quarter valued at about $79,000. Wilmington Savings Fund Society FSB bought a new stake in Vitesse Energy in the third quarter valued at about $78,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Vitesse Energy during the fourth quarter valued at approximately $104,000. 51.63% of the stock is owned by institutional investors and hedge funds.

About Vitesse Energy

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.