Vitesse Energy (NYSE:VTS) Stock Price Down 5% – Should You Sell?

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

Analysts Set New Price Targets

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

Vitesse Energy Trading Up 2.1%

The stock has a market cap of $715.74 million, a price-to-earnings ratio of -34.32 and a beta of 0.54. The business’s fifty day simple moving average is $18.07 and its 200 day simple moving average is $19.48. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend is Monday, June 15th. Vitesse Energy’s payout ratio is currently -350.00%.

Insider Buying and Selling

In other Vitesse Energy news, Director Joseph S. Steinberg acquired 59,118 shares of the firm’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 acquisition, the director directly owned 60,552 shares in the company, valued at $1,029,384. This trade represents a 4,122.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in Vitesse Energy by 12.9% in the third quarter. American Century Companies Inc. now owns 954,590 shares of the company’s stock worth $22,175,000 after purchasing an additional 108,742 shares during the period. Lee Danner & Bass Inc. lifted its stake in Vitesse Energy by 81.7% in the fourth quarter. Lee Danner & Bass Inc. now owns 233,470 shares of the company’s stock valued at $4,497,000 after buying an additional 104,990 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in Vitesse Energy in the fourth quarter valued at $869,000. Argentarii LLC bought a new stake in Vitesse Energy in the fourth quarter valued at $561,000. Finally, GSA Capital Partners LLP bought a new stake in Vitesse Energy in the third quarter valued at $927,000. Institutional investors and hedge funds 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.