Vitesse Energy (NYSE:VTS) Lowered to Neutral Rating by Alliance Global Partners

Alliance Global Partners downgraded shares of Vitesse Energy (NYSE:VTS) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. The brokerage currently has $26.00 price target on the stock.

Vitesse Energy Price Performance

Shares of NYSE VTS opened at $27.26 on Wednesday. The company has a fifty day moving average price of $25.00 and a 200 day moving average price of $24.59. The firm has a market cap of $805.26 million, a PE ratio of 18.67 and a beta of 0.22. The company has a current ratio of 0.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. Vitesse Energy has a 1-year low of $19.63 and a 1-year high of $27.85.

Vitesse Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.70%. The ex-dividend date of this dividend is Monday, December 16th. Vitesse Energy’s payout ratio is 143.84%.

Insider Transactions at Vitesse Energy

In other Vitesse Energy news, CEO Robert W. Gerrity purchased 10,000 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $24.73 per share, for a total transaction of $247,300.00. Following the purchase, the chief executive officer now owns 495,311 shares of the company’s stock, valued at approximately $12,249,041.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Heritage Wealth Management Inc. acquired a new stake in shares of Vitesse Energy in the 2nd quarter valued at approximately $503,000. State Board of Administration of Florida Retirement System bought a new position in shares of Vitesse Energy in the 1st quarter valued at about $736,000. Dimensional Fund Advisors LP increased its stake in shares of Vitesse Energy by 18.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock worth $21,587,000 after purchasing an additional 144,166 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Vitesse Energy by 146.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 179,724 shares of the company’s stock valued at $4,317,000 after purchasing an additional 106,927 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Vitesse Energy in the 2nd quarter valued at about $281,000. 51.63% of the stock is currently owned by institutional investors.

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.