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

Vitesse Energy, Inc. (NYSE:VTS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.01 and last traded at $17.3150, with a volume of 47996 shares. The stock had previously closed at $17.40.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VTS shares. Northland Securities set a $20.00 target price on shares of Vitesse Energy in a report on Wednesday, May 6th. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings cut shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Vitesse Energy Price Performance

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $716.87 million, a PE ratio of -34.39 and a beta of 0.62. The firm’s fifty day simple moving average is $18.43 and its 200-day simple moving average is $19.79.

Vitesse Energy (NYSE:VTS) last issued its earnings results on Monday, May 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.01). Vitesse Energy had a positive return on equity of 3.53% and a negative net margin of 7.15%.The firm had revenue of $67.41 million during the quarter, compared to analysts’ expectations of $66.71 million. On average, research analysts forecast that Vitesse Energy, Inc. will post -0.75 earnings per share for the current fiscal year.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s payout ratio is presently -350.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VTS. Royal Bank of Canada raised its holdings in shares of Vitesse Energy by 48.3% during the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock valued at $888,000 after purchasing an additional 11,747 shares during the last quarter. AQR Capital Management LLC increased its holdings in Vitesse Energy by 29.7% during the first quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after buying an additional 5,002 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Vitesse Energy by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after buying an additional 1,065 shares during the last quarter. Millennium Management LLC increased its holdings in Vitesse Energy by 241.7% during the first quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock valued at $4,415,000 after buying an additional 126,991 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Vitesse Energy by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock valued at $5,012,000 after buying an additional 9,943 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Company Profile

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.