Key Points
- Director buying: Vitesse Energy director Joseph Steinberg bought 59,118 shares at $17.00 each, a $1.0 million transaction that increased his stake by more than 4,100%.
- Dividend announced: The company declared a quarterly dividend of $0.4375 per share, payable June 30 to shareholders of record on June 15, implying an annualized yield of about 9.9%.
- Mixed fundamentals and sentiment: Vitesse recently missed earnings expectations with $0.00 EPS, while analysts currently rate the stock a consensus Hold with a $20.00 average price target.
Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) Director Joseph Steinberg bought 59,118 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $1,005,006.00. Following the transaction, the director owned 60,552 shares in the company, valued at approximately $1,029,384. The trade was a 4,122.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Vitesse Energy Stock Up 2.7%
Shares of VTS opened at $17.75 on Tuesday. The company has a market cap of $740.35 million, a PE ratio of -35.50 and a beta of 0.55. The business has a fifty day moving average of $18.27 and a 200 day moving average of $19.68. Vitesse Energy, Inc. has a 52-week low of $16.91 and a 52-week high of $27.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25.
Vitesse Energy (NYSE:VTS - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.01). Vitesse Energy had a negative net margin of 7.15% and a positive return on equity of 3.53%. The firm had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.71 million. On average, sell-side analysts expect that Vitesse Energy, Inc. will post -0.75 EPS for the current year.
Vitesse Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 9.9%. Vitesse Energy's payout ratio is currently -350.00%.
Hedge Funds Weigh In On Vitesse Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in VTS. Royal Bank of Canada increased its position in Vitesse Energy by 48.3% during the 1st quarter. Royal Bank of Canada now owns 36,074 shares of the company's stock valued at $888,000 after purchasing an additional 11,747 shares during the period. AQR Capital Management LLC increased its holdings in shares of Vitesse Energy by 29.7% in the 1st quarter. AQR Capital Management LLC now owns 21,841 shares of the company's stock valued at $535,000 after acquiring an additional 5,002 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Vitesse Energy by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297 shares of the company's stock worth $376,000 after acquiring an additional 1,065 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Vitesse Energy by 241.7% during the 1st quarter. Millennium Management LLC now owns 179,532 shares of the company's stock worth $4,415,000 after purchasing an additional 126,991 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Vitesse Energy by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 203,813 shares of the company's stock valued at $5,012,000 after purchasing an additional 9,943 shares in the last quarter. Institutional investors own 51.63% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on VTS shares. Wall Street Zen downgraded shares of Vitesse Energy from a "hold" rating to a "strong sell" rating in a research note on Saturday, March 7th. Weiss Ratings cut Vitesse Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.00.
View Our Latest Stock Analysis on VTS
Vitesse Energy Company Profile
(
Get Free Report)
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.
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