Vitesse Energy (NYSE:VTS) Reaches New 12-Month High – Still a Buy?

Vitesse Energy, Inc. (NYSE:VTS) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $28.65 and last traded at $28.65, with a volume of 447 shares changing hands. The stock had previously closed at $27.93.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded shares of Vitesse Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Wednesday, November 6th.

Vitesse Energy Trading Up 2.6 %

The business has a fifty day moving average price of $25.87 and a two-hundred day moving average price of $25.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $846.32 million, a PE ratio of 19.13 and a beta of 0.22.

Vitesse Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Monday, December 16th. Vitesse Energy’s dividend payout ratio (DPR) is presently 143.84%.

Insider Activity

In other news, CEO Robert W. Gerrity acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $24.73 per share, with a total value of $247,300.00. Following the completion of the purchase, the chief executive officer now owns 495,311 shares of the company’s stock, valued at $12,249,041.03. This represents a 2.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 15.80% of the company’s stock.

Institutional Trading of Vitesse Energy

Hedge funds have recently modified their holdings of the stock. Heritage Wealth Management Inc. purchased a new stake in shares of Vitesse Energy during the second quarter worth approximately $503,000. Dimensional Fund Advisors LP raised its holdings in shares of Vitesse Energy by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock valued at $21,587,000 after purchasing an additional 144,166 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Vitesse Energy by 146.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 179,724 shares of the company’s stock worth $4,317,000 after purchasing an additional 106,927 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Vitesse Energy during the second quarter worth $281,000. Finally, WINTON GROUP Ltd increased its holdings in Vitesse Energy by 57.5% in the second quarter. WINTON GROUP Ltd now owns 59,580 shares of the company’s stock valued at $1,412,000 after buying an additional 21,754 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.