PNC Financial Services Group Inc. Sells 1,265 Shares of Vitesse Energy, Inc. (NYSE:VTS)

PNC Financial Services Group Inc. lowered its stake in shares of Vitesse Energy, Inc. (NYSE:VTS) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,167 shares of the company’s stock after selling 1,265 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vitesse Energy were worth $704,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in Vitesse Energy during the third quarter worth approximately $34,000. R Squared Ltd bought a new stake in shares of Vitesse Energy in the fourth quarter valued at approximately $79,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Vitesse Energy in the third quarter valued at approximately $78,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vitesse Energy by 143.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,240 shares of the company’s stock valued at $150,000 after acquiring an additional 3,679 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Vitesse Energy by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 8,784 shares of the company’s stock valued at $220,000 after acquiring an additional 418 shares during the period. Institutional investors own 51.63% of the company’s stock.

Analyst Upgrades and Downgrades

VTS has been the subject of several research reports. Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Northland Capmk raised Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Northland Securities increased their price objective on Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th.

Insider Buying and Selling

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

Vitesse Energy Stock Down 0.2 %

Shares of VTS stock opened at $23.79 on Wednesday. The stock has a market cap of $917.77 million, a P/E ratio of 16.29 and a beta of 0.53. Vitesse Energy, Inc. has a one year low of $21.83 and a one year high of $28.41. The stock has a fifty day moving average price of $25.87 and a 200 day moving average price of $25.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75.

Vitesse Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be given a $0.5625 dividend. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 9.46%. The ex-dividend date of this dividend is Friday, March 21st. Vitesse Energy’s dividend payout ratio (DPR) is 351.56%.

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.