Alliance Global Partners Downgrades Vitesse Energy (NYSE:VTS) to Neutral

Alliance Global Partners downgraded shares of Vitesse Energy (NYSE:VTS) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat reports. Alliance Global Partners currently has $26.00 price target on the stock.

Vitesse Energy Stock Performance

NYSE VTS opened at $27.18 on Wednesday. The firm has a market cap of $800.45 million, a price-to-earnings ratio of 18.62 and a beta of 0.22. The company has a 50 day moving average of $24.94 and a 200-day moving average of $24.53. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. Vitesse Energy has a 1-year low of $19.63 and a 1-year high of $27.81.

Vitesse Energy (NYSE:VTS) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $66.60 million for the quarter, compared to analyst estimates of $63.89 million. Vitesse Energy had a return on equity of 7.22% and a net margin of 18.05%.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, December 16th. This represents a $2.10 annualized dividend and a dividend yield of 7.73%. Vitesse Energy’s dividend payout ratio (DPR) is currently 143.84%.

Insider Activity at Vitesse Energy

In related news, CEO Robert W. Gerrity purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $24.73 per share, with a total value of $247,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 495,311 shares in the company, valued at approximately $12,249,041.03. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Vitesse Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP grew its holdings in Vitesse Energy by 278.3% during the 1st quarter. GSA Capital Partners LLP now owns 38,445 shares of the company’s stock worth $912,000 after acquiring an additional 28,283 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Vitesse Energy by 6.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 30,395 shares of the company’s stock worth $721,000 after acquiring an additional 1,761 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Vitesse Energy by 13.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,744 shares of the company’s stock worth $421,000 after acquiring an additional 2,107 shares during the period. Cove Street Capital LLC grew its holdings in Vitesse Energy by 26.3% during the 1st quarter. Cove Street Capital LLC now owns 351,365 shares of the company’s stock worth $8,338,000 after acquiring an additional 73,102 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Vitesse Energy during the 1st quarter worth $736,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

About Vitesse Energy

Vitesse Energy, Inc, together with its subsidiaries, engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States. It owns and acquires non-operated working interest and royalty interest ownership in the Williston Basin properties located in North Dakota and Montana.