Vitesse Energy (NYSE:VTS) Shares Down 9.2% – Time to Sell?

Vitesse Energy, Inc. (NYSE:VTS)’s stock price dropped 9.2% during trading on Thursday . The stock traded as low as $20.38 and last traded at $20.0960. Approximately 147,178 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 365,703 shares. The stock had previously closed at $22.12.

Analyst Ratings Changes

VTS has been the topic of a number of recent research reports. Wall Street Zen raised Vitesse Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Vitesse Energy in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Vitesse Energy presently has an average rating of “Hold” and a consensus price target of $24.50.

Vitesse Energy Trading Down 11.2%

The business has a fifty day moving average price of $20.38 and a two-hundred day moving average price of $22.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $759.52 million, a PE ratio of 39.31 and a beta of 0.63.

Vitesse Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.4375 per share. The ex-dividend date is Monday, March 16th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 8.9%. Vitesse Energy’s dividend payout ratio (DPR) is currently 450.00%.

Insider Transactions at Vitesse Energy

In related news, 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 transaction of $104,716.26. Following the completion of the transaction, the chief accounting officer owned 82,413 shares of the company’s stock, valued at approximately $1,658,973.69. This trade represents a 5.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Brian Cree sold 43,216 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $20.12, for a total value of $869,505.92. Following the completion of the sale, the president directly owned 519,679 shares in the company, valued at approximately $10,455,941.48. The trade was a 7.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 341,808 shares of company stock worth $6,758,540. 18.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vitesse Energy

Several hedge funds have recently bought and sold shares of VTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vitesse Energy by 2,499.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,001 shares of the company’s stock valued at $9,757,000 after acquiring an additional 403,843 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Vitesse Energy by 2,102.0% in the third quarter. Millennium Management LLC now owns 204,350 shares of the company’s stock valued at $4,747,000 after purchasing an additional 195,070 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in shares of Vitesse Energy by 17.9% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,272,995 shares of the company’s stock valued at $29,572,000 after purchasing an additional 193,195 shares in the last quarter. First Wilshire Securities Management Inc. increased its position in shares of Vitesse Energy by 539.7% during the second quarter. First Wilshire Securities Management Inc. now owns 223,754 shares of the company’s stock worth $4,943,000 after acquiring an additional 188,774 shares during the period. Finally, Renaissance Technologies LLC raised its position in Vitesse Energy by 585.0% in the 4th quarter. Renaissance Technologies LLC now owns 168,500 shares of the company’s stock valued at $3,245,000 after purchasing an additional 143,900 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

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.