Vitesse Energy (NYSE:VTS) Shares Gap Down – Should You Sell?

Shares of Vitesse Energy, Inc. (NYSE:VTS) gapped down prior to trading on Tuesday. The stock had previously closed at $17.24, but opened at $16.37. Vitesse Energy shares last traded at $16.1020, with a volume of 112,909 shares changing hands.

Analysts Set New Price Targets

VTS has been the subject of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of Vitesse Energy in a report on Thursday, September 17th. Zacks Research raised shares of Vitesse Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Northland Securities set a $20.50 target price on Vitesse Energy in a research note on Thursday, September 17th. Wall Street Zen upgraded Vitesse Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered Vitesse Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Vitesse Energy Stock Down 6.9%

The business has a 50 day simple moving average of $17.56 and a 200-day simple moving average of $17.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $675.77 million, a price-to-earnings ratio of -48.59 and a beta of 0.60.

Vitesse Energy (NYSE:VTS) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $82.95 million during the quarter, compared to analysts’ expectations of $76.97 million. Vitesse Energy had a negative return on equity of 0.02% and a negative net margin of 3.95%. On average, equities analysts expect that Vitesse Energy, Inc. will post -1.11 EPS for the current year.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a $0.4375 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 10.9%. Vitesse Energy’s dividend payout ratio is currently -530.30%.

Institutional Trading of Vitesse Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Vitesse Energy by 458.6% in the third quarter. Farther Finance Advisors LLC now owns 1,877 shares of the company’s stock valued at $31,000 after purchasing an additional 1,541 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Vitesse Energy in the 2nd quarter worth $30,000. Versant Capital Management Inc increased its position in Vitesse Energy by 3,545.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,552 shares of the company’s stock valued at $43,000 after buying an additional 2,482 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Vitesse Energy by 359.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,949 shares of the company’s stock worth $54,000 after purchasing an additional 2,307 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Vitesse Energy by 150.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock valued at $56,000 after purchasing an additional 2,002 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

About Vitesse Energy

Vitesse Energy, Inc is an independent energy company focused on owning non-operated interests in oil and natural gas wells. Rather than serving as the primary operator, Vitesse invests alongside exploration and production companies, allowing it to participate in well production while relying on operating partners to manage drilling and field activities.

The company’s portfolio is weighted toward oil-producing assets in the Williston Basin, including the Bakken and Three Forks formations in North Dakota and Montana.