Vitesse Energy (NYSE:VTS) Shares Down 5% – Here’s What Happened

Vitesse Energy, Inc. (NYSE:VTS) shares fell 5% during trading on Thursday . The stock traded as low as $17.27 and last traded at $17.0060. 262,581 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 493,282 shares. The stock had previously closed at $17.91.

Analyst Upgrades and Downgrades

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

Vitesse Energy Price Performance

The company has a market cap of $703.23 million, a PE ratio of -33.92 and a beta of 0.54. The business has a 50 day moving average of $18.11 and a 200 day moving average of $19.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

Vitesse Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 annualized dividend and a dividend yield of 10.4%. Vitesse Energy’s payout ratio is currently -350.00%.

Insider Transactions at Vitesse Energy

In related news, Director Joseph S. Steinberg acquired 59,118 shares of the stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the completion of the acquisition, the director directly owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. This represents a 4,122.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Vitesse Energy by 48.3% in the first quarter. Royal Bank of Canada now owns 36,074 shares of the company’s stock worth $888,000 after purchasing an additional 11,747 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Vitesse Energy by 29.7% during the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company’s stock valued at $535,000 after buying an additional 5,002 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Vitesse Energy by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company’s stock valued at $376,000 after buying an additional 1,065 shares in the last quarter. Millennium Management LLC grew its position in shares of Vitesse Energy by 241.7% in the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company’s stock worth $4,415,000 after buying an additional 126,991 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Vitesse Energy by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company’s stock worth $5,012,000 after acquiring an additional 9,943 shares in the last quarter. Hedge funds and other institutional investors 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.