Vitesse Energy (NYSE:VTS) Sets New 52-Week Low – Time to Sell?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $16.73 and last traded at $16.7730, with a volume of 1166857 shares. The stock had previously closed at $17.91.

Analyst Upgrades and Downgrades

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

Vitesse Energy Price Performance

The stock has a market capitalization of $699.60 million, a price-to-earnings ratio of -33.55 and a beta of 0.54. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $18.08 and a 200 day simple moving average of $19.50.

Vitesse Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.4375 per share. The ex-dividend date is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 10.4%. Vitesse Energy’s dividend payout ratio (DPR) is presently -350.00%.

Insider Buying and Selling

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 59,118 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the transaction, the director owned 60,552 shares of the company’s stock, valued at $1,029,384. The trade was a 4,122.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.94% of the company’s stock.

Institutional Investors Weigh In On Vitesse Energy

A number of institutional investors have recently bought and sold shares of the business. Norris Financial Group LLC acquired a new stake in Vitesse Energy during the 1st quarter worth about $1,394,000. Bank of America Corp DE lifted its holdings in shares of Vitesse Energy by 162.3% during the 1st quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock valued at $2,547,000 after buying an additional 86,777 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Vitesse Energy by 78.9% during the 1st quarter. Quantinno Capital Management LP now owns 35,294 shares of the company’s stock valued at $641,000 after buying an additional 15,562 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Vitesse Energy by 58.6% during the 1st quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock valued at $4,990,000 after buying an additional 101,506 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Vitesse Energy during the 1st quarter valued at about $188,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.