Vitesse Energy (NYSE:VTS) Upgraded at Northland Capmk

Northland Capmk upgraded shares of Vitesse Energy (NYSE:VTS) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

VTS has been the topic of several other research reports. Alliance Global Partners raised shares of Vitesse Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Securities raised their price target on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday.

Vitesse Energy Stock Performance

Shares of NYSE:VTS opened at $27.35 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. Vitesse Energy has a 1 year low of $19.63 and a 1 year high of $28.41. The firm has a market capitalization of $807.92 million, a PE ratio of 18.73 and a beta of 0.51. The business’s 50 day moving average price is $26.59 and its 200-day moving average price is $25.51.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.525 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.10 annualized dividend and a dividend yield of 7.68%. Vitesse Energy’s dividend payout ratio is presently 143.84%.

Insiders Place Their Bets

In other news, VP Michael Sabol sold 6,714 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total value of $179,263.80. Following the completion of the sale, the vice president now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mike Morella sold 8,143 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 81,615 shares in the company, valued at $2,178,304.35. This represents a 9.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vitesse Energy

A number of institutional investors and hedge funds have recently made changes to their positions in VTS. Rhumbline Advisers grew its stake in shares of Vitesse Energy by 3.0% in the second quarter. Rhumbline Advisers now owns 42,572 shares of the company’s stock valued at $1,009,000 after buying an additional 1,257 shares in the last quarter. American Century Companies Inc. boosted its holdings in Vitesse Energy by 267.2% during the 2nd quarter. American Century Companies Inc. now owns 285,613 shares of the company’s stock valued at $6,769,000 after acquiring an additional 207,831 shares during the period. Dimensional Fund Advisors LP grew its position in Vitesse Energy by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock valued at $21,587,000 after acquiring an additional 144,166 shares in the last quarter. Squarepoint Ops LLC increased its stake in Vitesse Energy by 38.3% during the second quarter. Squarepoint Ops LLC now owns 68,307 shares of the company’s stock worth $1,619,000 after purchasing an additional 18,904 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Vitesse Energy by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,689 shares of the company’s stock worth $230,000 after purchasing an additional 492 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

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.