Vitesse Energy (NYSE:VTS) Sees Unusually-High Trading Volume – Here’s What Happened

Vitesse Energy, Inc. (NYSE:VTS) shares saw an uptick in trading volume on Monday . 155,023 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 183,235 shares.The stock last traded at $23.99 and had previously closed at $22.89.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VTS shares. Evercore ISI reaffirmed an “in-line” rating and set a $28.00 price objective on shares of Vitesse Energy in a research note on Wednesday, March 19th. Northland Capmk raised shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Northland Securities upped their price objective on shares of Vitesse Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, Alliance Global Partners raised Vitesse Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th.

Vitesse Energy Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50-day moving average price is $25.72 and its 200-day moving average price is $25.74. The company has a market cap of $927.03 million, a P/E ratio of 16.46 and a beta of 0.53.

Vitesse Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be paid a $0.5625 dividend. This is an increase from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, March 21st. This represents a $2.25 annualized dividend and a dividend yield of 9.36%. Vitesse Energy’s dividend payout ratio (DPR) is currently 351.56%.

Insider Activity

In other news, CAO Mike Morella sold 8,143 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Sabol sold 6,714 shares of the company’s 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 owns 63,411 shares in the company, valued at $1,693,073.70. The trade was a 9.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors have recently added to or reduced their stakes in the company. one8zero8 LLC bought a new stake in shares of Vitesse Energy in the 4th quarter valued at about $3,330,000. Dimensional Fund Advisors LP lifted its position in shares of Vitesse Energy by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,161,250 shares of the company’s stock valued at $29,031,000 after buying an additional 125,988 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Vitesse Energy by 112.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company’s stock worth $5,450,000 after acquiring an additional 119,861 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Vitesse Energy by 61.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 290,554 shares of the company’s stock worth $7,264,000 after acquiring an additional 110,830 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Vitesse Energy by 877.8% during the 4th quarter. Marshall Wace LLP now owns 121,468 shares of the company’s stock valued at $3,037,000 after purchasing an additional 109,046 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.