Vitesse Energy (NYSE:VTS) Trading Down 5.2% – What’s Next?

Shares of Vitesse Energy, Inc. (NYSE:VTS) traded down 5.2% during mid-day trading on Monday . The stock traded as low as $18.61 and last traded at $18.85. 320,893 shares traded hands during trading, a decline of 27% from the average session volume of 440,181 shares. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vitesse Energy in a report on Monday, December 29th. Wall Street Zen cut shares of Vitesse Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Vitesse Energy currently has a consensus rating of “Hold” and an average target price of $24.50.

Vitesse Energy Trading Down 6.1%

The firm has a fifty day simple moving average of $20.41 and a 200-day simple moving average of $21.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $743.33 million, a P/E ratio of 29.75 and a beta of 0.68.

Vitesse Energy (NYSE:VTS) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.12). Vitesse Energy had a return on equity of 4.38% and a net margin of 9.23%.The company had revenue of $58.62 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, equities research analysts expect that Vitesse Energy, Inc. will post 1.05 earnings per share for the current year.

Vitesse Energy Cuts Dividend

The firm also recently announced 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. This represents a $1.75 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Monday, March 16th. Vitesse Energy’s dividend payout ratio (DPR) is currently 277.78%.

Insider Buying and Selling

In other news, President Brian Cree sold 1,440 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $19.69, for a total value of $28,353.60. Following the sale, the president directly owned 464,225 shares of the company’s stock, valued at approximately $9,140,590.25. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Sabol sold 4,497 shares of Vitesse Energy stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $20.14, for a total value of $90,569.58. Following the sale, the vice president directly owned 64,914 shares of the company’s stock, valued at $1,307,367.96. This represents a 6.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 341,808 shares of company stock valued at $6,758,540. 18.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its position in Vitesse Energy by 20.0% in the 2nd quarter. American Century Companies Inc. now owns 845,848 shares of the company’s stock valued at $18,685,000 after acquiring an additional 140,768 shares during the last quarter. First Wilshire Securities Management Inc. lifted its holdings in 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 buying an additional 188,774 shares during the period. GoodHaven Capital Management LLC boosted its position in Vitesse Energy by 2.7% during the second quarter. GoodHaven Capital Management LLC now owns 552,151 shares of the company’s stock valued at $12,197,000 after purchasing an additional 14,300 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Vitesse Energy by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 695,919 shares of the company’s stock worth $15,376,000 after buying an additional 60,229 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Vitesse Energy during the second quarter worth $222,000. 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.