Vitesse Energy (NYSE:VTS) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Vitesse Energy (NYSE:VTS) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other research firms have also issued reports on VTS. Alliance Global Partners upgraded Vitesse Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Securities lifted their price objective on shares of Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday.

Vitesse Energy Stock Up 0.8 %

Shares of NYSE VTS opened at $27.34 on Thursday. Vitesse Energy has a 12-month low of $19.63 and a 12-month high of $28.41. The stock’s fifty day simple moving average is $26.59 and its two-hundred day simple moving average is $25.48. The stock has a market capitalization of $807.48 million, a PE ratio of 18.67 and a beta of 0.51. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.68%. The ex-dividend date was Monday, December 16th. Vitesse Energy’s dividend payout ratio is currently 143.84%.

Insider Buying and Selling at Vitesse Energy

In related news, CAO Mike Morella sold 8,143 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total value of $217,336.67. Following the completion of the transaction, the chief accounting officer now owns 81,615 shares in the company, valued at $2,178,304.35. This trade represents a 9.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $26.70, for a total value of $179,263.80. Following the sale, the vice president now directly owns 63,411 shares of the company’s stock, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Vitesse Energy by 61.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 290,554 shares of the company’s stock valued at $7,264,000 after acquiring an additional 110,830 shares during the last quarter. Barclays PLC grew its position in Vitesse Energy by 325.7% during the 3rd quarter. Barclays PLC now owns 39,528 shares of the company’s stock worth $950,000 after purchasing an additional 30,243 shares during the period. Geode Capital Management LLC raised its stake in shares of Vitesse Energy by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 582,234 shares of the company’s stock valued at $13,988,000 after buying an additional 9,724 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vitesse Energy by 112.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock valued at $5,450,000 after buying an additional 119,861 shares during the period. Finally, Heritage Wealth Management Inc. purchased a new stake in shares of Vitesse Energy in the second quarter worth about $503,000. 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.