Vitesse Energy (NYSE:VTS) Rating Increased to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Vitesse Energy (NYSE:VTS) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat reports. The brokerage currently has $29.00 price objective on the stock, up from their prior price objective of $26.00.

Vitesse Energy Stock Down 1.6 %

Vitesse Energy stock opened at $24.11 on Tuesday. The firm has a market cap of $712.31 million, a price-to-earnings ratio of 16.51 and a beta of 0.35. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. Vitesse Energy has a 12 month low of $19.63 and a 12 month high of $28.41. The stock has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $25.25.

Vitesse Energy Dividend Announcement

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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.71%. The ex-dividend date is Monday, December 16th. Vitesse Energy’s payout ratio is presently 143.84%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VTS. Charles Schwab Investment Management Inc. lifted its holdings in Vitesse Energy by 112.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock valued at $5,450,000 after acquiring an additional 119,861 shares during the period. Heritage Wealth Management Inc. bought a new position in shares of Vitesse Energy in the 2nd quarter worth approximately $503,000. Dimensional Fund Advisors LP boosted its holdings in shares of Vitesse Energy by 18.8% in the second quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock worth $21,587,000 after buying an additional 144,166 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Vitesse Energy by 146.9% during the third quarter. Harbor Capital Advisors Inc. now owns 179,724 shares of the company’s stock valued at $4,317,000 after buying an additional 106,927 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Vitesse Energy by 57.5% during 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 owned by hedge funds and other institutional investors.

Vitesse Energy Company Profile

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.