Vitesse Energy (NYSE:VTS) Sees Unusually-High Trading Volume – Should You Buy?

Vitesse Energy, Inc. (NYSE:VTS) shares saw unusually-strong trading volume on Monday . Approximately 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.

Analysts Set New Price Targets

VTS has been the subject of a number of recent analyst reports. Northland Securities upped their target price on Vitesse Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Alliance Global Partners upgraded shares of Vitesse Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $26.00 to $29.00 in a research note on Tuesday, December 17th. Northland Capmk raised shares of Vitesse Energy to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $28.00 price target on shares of Vitesse Energy in a research report on Wednesday, March 19th.

Vitesse Energy Price Performance

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

Vitesse Energy Increases Dividend

The firm 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 dividend of $0.5625 per share. This is a boost from Vitesse Energy’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, March 21st. This represents a $2.25 dividend on an annualized basis and a yield of 9.36%. Vitesse Energy’s dividend payout ratio (DPR) is currently 351.56%.

Insider Activity at Vitesse Energy

In related news, CAO Mike Morella sold 8,143 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total transaction of $217,336.67. Following the sale, the chief accounting officer now directly owns 81,615 shares in the company, valued at $2,178,304.35. This represents a 9.07 % decrease in their position. The transaction 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 Vitesse Energy stock in a transaction on Tuesday, January 14th. The shares were 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 owns 63,411 shares of the company’s stock, valued at approximately $1,693,073.70. The trade was a 9.57 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.

Institutional Trading of Vitesse Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Inlet Private Wealth LLC grew its holdings in Vitesse Energy by 0.7% during the 4th quarter. Inlet Private Wealth LLC now owns 59,651 shares of the company’s stock worth $1,491,000 after acquiring an additional 400 shares during the last quarter. Principal Financial Group Inc. increased its holdings 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 purchasing an additional 418 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vitesse Energy by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,232 shares of the company’s stock valued at $356,000 after purchasing an additional 497 shares in the last quarter. Rhumbline Advisers raised its position in Vitesse Energy by 1.6% in the 4th quarter. Rhumbline Advisers now owns 41,929 shares of the company’s stock worth $1,048,000 after purchasing an additional 660 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Vitesse Energy by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 241,761 shares of the company’s stock worth $5,807,000 after buying an additional 853 shares in 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.