Vitesse Energy (NYSE:VTS) Sees Large Volume Increase After Insider Buying Activity

Vitesse Energy, Inc. (NYSE:VTS) saw unusually-high trading volume on Tuesday following insider buying activity. Approximately 68,011 shares traded hands during mid-day trading, a decline of 66% from the previous session’s volume of 198,286 shares.The stock last traded at $24.72 and had previously closed at $23.88.

Specifically, CEO Robert W. Gerrity purchased 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $24.73 per share, with a total value of $247,300.00. Following the completion of the transaction, the chief executive officer now owns 495,311 shares of the company’s stock, valued at approximately $12,249,041.03. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Separately, Alliance Global Partners decreased their price objective on shares of Vitesse Energy from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Vitesse Energy Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average price of $24.82 and a 200-day moving average price of $24.13. The company has a market capitalization of $720.76 million, a price-to-earnings ratio of 29.13 and a beta of 0.24.

Vitesse Energy (NYSE:VTS) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Vitesse Energy had a net margin of 10.78% and a return on equity of 7.94%. The business had revenue of $66.60 million for the quarter, compared to analyst estimates of $63.89 million. As a group, analysts forecast that Vitesse Energy, Inc. will post 1.4 earnings per share for the current year.

Vitesse Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.10 dividend on an annualized basis and a yield of 8.58%. Vitesse Energy’s dividend payout ratio (DPR) is currently 250.00%.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Vitesse Energy in the second quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new position in Vitesse Energy during the 2nd quarter worth $36,000. Security National Bank bought a new position in Vitesse Energy during the 4th quarter worth $37,000. Register Financial Advisors LLC acquired a new stake in shares of Vitesse Energy during the first quarter worth $45,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Vitesse Energy by 212,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $47,000 after acquiring an additional 2,127 shares during the period. 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.