Lee Danner & Bass Inc. Buys 113,000 Shares of Vitesse Energy, Inc. $VTS

Lee Danner & Bass Inc. increased its stake in shares of Vitesse Energy, Inc. (NYSE:VTS) by 48.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,470 shares of the company’s stock after buying an additional 113,000 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Vitesse Energy were worth $6,292,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Zacks Research cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Northland Securities set a $20.00 price target on shares of Vitesse Energy in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $20.00.

Vitesse Energy Price Performance

Shares of VTS stock opened at $15.49 on Friday. The business has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $18.89. The company has a market cap of $646.30 million, a P/E ratio of -30.99 and a beta of 0.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. Vitesse Energy, Inc. has a twelve month low of $15.42 and a twelve month high of $27.15.

Vitesse Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.75 annualized dividend and a yield of 11.3%. Vitesse Energy’s payout ratio is presently -350.00%.

Insider Activity at Vitesse Energy

In related news, Director Joseph S. Steinberg purchased 59,118 shares of Vitesse Energy stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the purchase, the director owned 60,552 shares in the company, valued at approximately $1,029,384. This trade represents a 4,122.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.94% of the company’s stock.

Vitesse Energy 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.