Vitesse Energy (NYSE:VTS) Trading Down 4.1% – Here’s Why

Shares of Vitesse Energy, Inc. (NYSE:VTS) traded down 4.1% during mid-day trading on Monday . The stock traded as low as $18.84 and last traded at $18.97. 44,519 shares were traded during trading, a decline of 90% from the average session volume of 430,513 shares. The stock had previously closed at $19.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday, December 29th. Wall Street Zen cut Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Vitesse Energy Trading Down 0.5%

The stock has a market cap of $765.01 million, a price-to-earnings ratio of 30.53 and a beta of 0.68. The business has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $21.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). The business had revenue of $58.62 million during the quarter, compared to analyst estimates of $67.10 million. Vitesse Energy had a net margin of 9.23% and a return on equity of 4.38%. As a group, research analysts forecast that Vitesse Energy, Inc. will post 1.05 EPS for the current year.

Vitesse Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 9.1%. The ex-dividend date is Monday, March 16th. Vitesse Energy’s payout ratio is presently 277.78%.

Insider Buying and Selling at Vitesse Energy

In related news, President Brian Cree sold 1,440 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $19.69, for a total transaction of $28,353.60. Following the sale, the president owned 464,225 shares in the company, valued at approximately $9,140,590.25. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mike Morella sold 5,202 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $20.13, for a total value of $104,716.26. Following the transaction, the chief accounting officer directly owned 82,413 shares of the company’s stock, valued at $1,658,973.69. This trade represents a 5.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 341,808 shares of company stock valued at $6,758,540. Corporate insiders own 18.15% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its stake in shares of Vitesse Energy by 141.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,845 shares of the company’s stock valued at $594,000 after buying an additional 18,062 shares in the last quarter. NewEdge Advisors LLC raised its position in Vitesse Energy by 15.1% during the fourth quarter. NewEdge Advisors LLC now owns 20,199 shares of the company’s stock worth $389,000 after acquiring an additional 2,648 shares in the last quarter. VARCOV Co. bought a new stake in Vitesse Energy during the fourth quarter worth $822,000. Odyssean LLC acquired a new stake in Vitesse Energy in the fourth quarter valued at $232,000. Finally, Millennium Management LLC lifted its stake in Vitesse Energy by 44.2% in the fourth quarter. Millennium Management LLC now owns 294,657 shares of the company’s stock valued at $5,675,000 after acquiring an additional 90,307 shares during the last quarter. 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.