Vitesse Energy, Inc. $VTS Shares Sold by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. lowered its stake in shares of Vitesse Energy, Inc. (NYSE:VTS) by 7.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,333,720 shares of the company’s stock after selling 104,809 shares during the period. Vitesse Energy comprises about 1.4% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 20th largest holding. Punch & Associates Investment Management Inc. owned 3.20% of Vitesse Energy worth $24,220,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio purchased a new stake in shares of Vitesse Energy in the first quarter worth about $54,000. Whittier Trust Co. of Nevada Inc. raised its position in Vitesse Energy by 359.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock valued at $54,000 after acquiring an additional 2,307 shares in the last quarter. Osaic Holdings Inc. raised its position in Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock valued at $78,000 after acquiring an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Vitesse Energy by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock valued at $84,000 after acquiring an additional 2,432 shares during the period. Finally, Daytona Street Capital LLC acquired a new position in Vitesse Energy in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph S. Steinberg acquired 40,882 shares of Vitesse Energy stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $660,653.12. Following the completion of the transaction, the director owned 108,500 shares of the company’s stock, valued at approximately $1,753,360. The trade was a 60.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.94% of the company’s stock.

Vitesse Energy Trading Down 1.0%

Shares of VTS stock opened at $15.77 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $657.81 million, a price-to-earnings ratio of -31.54 and a beta of 0.57. The stock has a 50 day simple moving average of $16.57 and a 200-day simple moving average of $18.49. Vitesse Energy, Inc. has a 1-year low of $15.01 and a 1-year high of $27.15.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Monday, June 15th. Vitesse Energy’s payout ratio is presently -350.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VTS shares. Zacks Research cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Northland Securities upgraded shares of Vitesse Energy from a “market perform” rating to an “outperform” rating and set a $18.50 target price for the company in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.25.

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.