Vitesse Energy (NYSE:VTS) Reaches New 52-Week Low – Here’s What Happened

Vitesse Energy, Inc. (NYSE:VTS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.18 and last traded at $15.4160, with a volume of 60937 shares. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

VTS has been the topic of a number of analyst reports. Zacks Research lowered Vitesse Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Northland Securities set a $20.00 price target on Vitesse Energy in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered Vitesse Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $20.00.

Vitesse Energy Stock Performance

The stock’s fifty day simple moving average is $17.26 and its 200-day simple moving average is $18.81. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $656.31 million, a PE ratio of -31.47 and a beta of 0.57.

Vitesse Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, June 15th. Vitesse Energy’s dividend payout ratio (DPR) is -350.00%.

Insider Activity

In related news, Director Joseph S. Steinberg bought 59,118 shares of Vitesse Energy stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the purchase, the director owned 60,552 shares in the company, valued at $1,029,384. This represents a 4,122.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.94% of the stock is owned by corporate insiders.

Institutional Trading of Vitesse Energy

Several institutional investors and hedge funds have recently made changes to their positions in VTS. Whittier Trust Co. of Nevada Inc. increased its position in Vitesse Energy by 359.3% during 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 in the last quarter. Strs Ohio acquired a new stake in shares of Vitesse Energy during the 1st quarter worth about $54,000. Osaic Holdings Inc. grew its holdings in shares of Vitesse Energy by 43.5% during the second quarter. Osaic Holdings Inc. now owns 3,529 shares of the company’s stock worth $78,000 after buying an additional 1,069 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Vitesse Energy by 179.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,786 shares of the company’s stock worth $84,000 after buying an additional 2,432 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new position in shares of Vitesse Energy in the fourth quarter valued at approximately $154,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

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.