Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – Here’s Why

Shares of Vitesse Energy, Inc. (NYSE:VTS) hit a new 52-week low on Monday . The company traded as low as $15.18 and last traded at $15.4160, with a volume of 60937 shares trading hands. The stock had previously closed at $15.48.

Analysts Set New Price Targets

Several brokerages recently weighed in on VTS. Northland Securities set a $20.00 target price on shares of Vitesse Energy in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $20.00.

Vitesse Energy Stock Down 1.3%

The business has a 50-day simple moving average of $17.38 and a 200-day simple moving average of $18.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $637.50 million, a price-to-earnings ratio of -30.55 and a beta of 0.57.

Vitesse Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.4375 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.4%. Vitesse Energy’s dividend payout ratio is currently -350.00%.

Insider Buying and Selling at Vitesse Energy

In other news, Director Joseph S. Steinberg acquired 40,882 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $16.16 per share, with a total value of $660,653.12. Following the transaction, the director owned 108,500 shares in the company, valued at approximately $1,753,360. This trade represents a 60.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.94% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Several institutional investors have recently added to or reduced their stakes in VTS. Punch & Associates Investment Management Inc. lifted its position in shares of Vitesse Energy by 13.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,438,529 shares of the company’s stock worth $27,706,000 after buying an additional 165,534 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Vitesse Energy by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,697 shares of the company’s stock worth $27,363,000 after purchasing an additional 69,477 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 32,790 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Vitesse Energy by 12.9% in 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 period. Finally, Geode Capital Management LLC grew its stake 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 buying an additional 3,364 shares during the last quarter. 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.