Roth Mkm Raises Vitesse Energy (NYSE:VTS) Price Target to $33.00

Vitesse Energy (NYSE:VTS) had its target price raised by Roth Mkm from $30.50 to $33.00 in a research report report published on Wednesday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Alliance Global Partners upgraded Vitesse Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $29.00 in a research report on Tuesday, December 17th. Northland Securities upped their price objective on Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Northland Capmk upgraded shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Evercore ISI reiterated an “in-line” rating and set a $28.00 price target on shares of Vitesse Energy in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $30.25.

Vitesse Energy Stock Performance

Vitesse Energy stock opened at $21.68 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a market cap of $836.37 million, a PE ratio of 14.85 and a beta of 0.53. Vitesse Energy has a 12-month low of $21.31 and a 12-month high of $28.41. The business’s 50-day moving average price is $25.20 and its two-hundred day moving average price is $25.73.

Vitesse Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 21st were issued a $0.5625 dividend. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date was Friday, March 21st. Vitesse Energy’s payout ratio is presently 351.56%.

Insider Transactions at Vitesse Energy

In related news, VP Michael Sabol sold 6,714 shares of the 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 transaction, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. This trade represents a 9.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mike Morella sold 8,143 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total transaction of $217,336.67. Following the sale, the chief accounting officer now owns 81,615 shares of the company’s stock, valued at $2,178,304.35. This trade represents a 9.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VTS. Meeder Asset Management Inc. purchased a new position in shares of Vitesse Energy in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in Vitesse Energy in the third quarter valued at about $78,000. R Squared Ltd bought a new position in shares of Vitesse Energy during the 4th quarter valued at approximately $79,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Vitesse Energy during the 4th quarter worth approximately $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vitesse Energy by 143.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock valued at $150,000 after purchasing an additional 3,679 shares during the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

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.