Insider Buying: Vitesse Energy (NYSE:VTS) Director Buys $1,005,006.00 in Stock

Vitesse Energy, Inc. (NYSE:VTS) Director Joseph Steinberg purchased 59,118 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $1,005,006.00. Following the completion of the transaction, the director owned 60,552 shares of the company’s stock, valued at approximately $1,029,384. This trade represents a 4,122.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Vitesse Energy Stock Performance

VTS opened at $17.62 on Thursday. The company has a 50 day simple moving average of $18.21 and a two-hundred day simple moving average of $19.64. 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, Inc. has a 1-year low of $16.91 and a 1-year high of $27.15. The firm has a market cap of $734.72 million, a P/E ratio of -35.23 and a beta of 0.54.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). Vitesse Energy had a positive return on equity of 3.53% and a negative net margin of 7.15%.The business had revenue of $67.41 million during the quarter, compared to analysts’ expectations of $66.71 million. Equities analysts forecast that Vitesse Energy, Inc. will post -0.75 earnings per share for the current fiscal year.

Vitesse Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a yield of 9.9%. Vitesse Energy’s payout ratio is currently -350.00%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Vitesse Energy

A number of large investors have recently added to or reduced their stakes in VTS. Oppenheimer & Co. Inc. boosted its holdings in shares of Vitesse Energy by 2.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,776 shares of the company’s stock worth $400,000 after purchasing an additional 530 shares during the period. Ausdal Financial Partners Inc. boosted its holdings in shares of Vitesse Energy by 5.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 13,364 shares of the company’s stock worth $257,000 after purchasing an additional 690 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Vitesse Energy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,911 shares of the company’s stock worth $576,000 after purchasing an additional 756 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Vitesse Energy by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,957 shares of the company’s stock worth $404,000 after purchasing an additional 786 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Vitesse Energy by 5.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,158 shares of the company’s stock worth $357,000 after purchasing an additional 861 shares during the period. Institutional investors own 51.63% of the company’s stock.

About Vitesse Energy

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.