Joseph Steinberg Buys 40,882 Shares of Vitesse Energy (NYSE:VTS) Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg purchased 40,882 shares of Vitesse Energy stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $16.16 per share, with a total value of $660,653.12. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Vitesse Energy Stock Performance

NYSE:VTS opened at $16.05 on Friday. The firm’s 50-day moving average is $17.89 and its 200-day moving average is $19.33. Vitesse Energy, Inc. has a 52-week low of $15.80 and a 52-week high of $27.15. 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 $669.24 million, a price-to-earnings ratio of -32.09 and a beta of 0.54.

Vitesse Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 10.9%. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Wall Street Analyst Weigh In

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

Institutional Trading of Vitesse Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its stake in Vitesse Energy by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock worth $400,000 after purchasing an additional 530 shares during the period. Ausdal Financial Partners Inc. grew its stake in shares of Vitesse Energy by 5.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock valued at $257,000 after purchasing an additional 690 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Vitesse Energy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock worth $576,000 after buying an additional 756 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vitesse Energy by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock worth $404,000 after buying an additional 786 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vitesse Energy by 5.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,158 shares of the company’s stock worth $357,000 after buying an additional 861 shares during the period. Institutional investors own 51.63% of the company’s stock.

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.