Vitesse Energy (NYSE:VTS) Reaches New 1-Year Low – Should You Sell?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price reached a new 52-week low on Friday . The company traded as low as $21.75 and last traded at $21.86, with a volume of 392439 shares. The stock had previously closed at $23.96.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VTS shares. Alliance Global Partners raised shares of Vitesse Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Securities raised their target price on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and set a $28.00 price target on shares of Vitesse Energy in a research report on Wednesday, March 19th. Northland Capmk upgraded Vitesse Energy to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Roth Mkm lifted their target price on Vitesse Energy from $30.50 to $33.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vitesse Energy has an average rating of “Buy” and an average target price of $30.25.

Vitesse Energy Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $25.20 and its 200-day simple moving average is $25.73. The stock has a market cap of $836.37 million, a price-to-earnings ratio of 14.85 and a beta of 0.56.

Vitesse Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 21st were paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date was Friday, March 21st. This is a positive change from Vitesse Energy’s previous quarterly dividend of $0.53. Vitesse Energy’s dividend payout ratio (DPR) is 351.56%.

Insider Buying and Selling

In related news, CAO Mike Morella sold 8,143 shares of Vitesse Energy 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 directly owns 81,615 shares of the company’s stock, valued at $2,178,304.35. This trade represents a 9.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Sabol sold 6,714 shares of the company’s stock in a transaction 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 sale, the vice president now owns 63,411 shares of the company’s stock, valued at $1,693,073.70. The trade was a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vitesse Energy

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in Vitesse Energy by 112.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock valued at $5,450,000 after purchasing an additional 119,861 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Vitesse Energy by 143.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock worth $150,000 after buying an additional 3,679 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Vitesse Energy in the 3rd quarter valued at $288,000. Jane Street Group LLC boosted its holdings in shares of Vitesse Energy by 12.8% during the 3rd quarter. Jane Street Group LLC now owns 50,768 shares of the company’s stock valued at $1,219,000 after acquiring an additional 5,777 shares in the last quarter. Finally, Barclays PLC grew its position in Vitesse Energy by 325.7% during the 3rd quarter. Barclays PLC now owns 39,528 shares of the company’s stock worth $950,000 after acquiring an additional 30,243 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.