Vitesse Energy (NYSE:VTS) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of Vitesse Energy (NYSE:VTS) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

A number of other research firms also recently commented on VTS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Vitesse Energy in a report on Monday, August 3rd. Alliance Global Partners reissued a “buy” rating on shares of Vitesse Energy in a research note on Tuesday, August 4th. Citigroup restated an “outperform” rating on shares of Vitesse Energy in a report on Thursday, September 17th. Wall Street Zen upgraded Vitesse Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Northland Securities set a $20.50 price objective on shares of Vitesse Energy in a report on Thursday, September 17th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Vitesse Energy Trading Down 0.6%

Shares of NYSE:VTS opened at $16.95 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $16.94 and its 200 day moving average price is $17.20. The company has a market cap of $713.45 million, a PE ratio of -51.35 and a beta of 0.60. Vitesse Energy has a fifty-two week low of $15.00 and a fifty-two week high of $23.53.

Vitesse Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date was Tuesday, September 15th. Vitesse Energy’s dividend payout ratio is currently -530.30%.

Hedge Funds Weigh In On Vitesse Energy

Several institutional investors have recently modified their holdings of VTS. Bank of America Corp DE boosted its position in shares of Vitesse Energy by 162.3% during the first quarter. Bank of America Corp DE now owns 140,256 shares of the company’s stock worth $2,547,000 after buying an additional 86,777 shares during the period. Gabelli Funds LLC raised its holdings in Vitesse Energy by 58.6% in the 1st quarter. Gabelli Funds LLC now owns 274,804 shares of the company’s stock valued at $4,990,000 after acquiring an additional 101,506 shares during the period. Norris Financial Group LLC bought a new position in Vitesse Energy during the 1st quarter worth $1,394,000. Corient Private Wealth LP acquired a new stake in shares of Vitesse Energy in the second quarter valued at approximately $928,000. Finally, First Trust Advisors LP raised its stake in Vitesse Energy by 33.9% in the first quarter. First Trust Advisors LP now owns 337,885 shares of the company’s stock valued at $6,136,000 after purchasing an additional 85,637 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Vitesse Energy Company Profile

Vitesse Energy, Inc is an oil and gas company that owns non-operated working interests and mineral interests in wells drilled and operated by other exploration and production companies. Rather than managing drilling operations directly, Vitesse provides capital to acquire interests in producing and development-stage properties while relying on its operating partners to handle drilling, completion, production and field operations.

The company’s portfolio is focused primarily on U.S. oil-producing regions, including the Williston Basin and other major onshore basins.