Raymond James Financial Inc. Acquires Shares of 22,743 Vitesse Energy, Inc. (NYSE:VTS)

Raymond James Financial Inc. acquired a new stake in shares of Vitesse Energy, Inc. (NYSE:VTS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,743 shares of the company's stock, valued at approximately $569,000. Raymond James Financial Inc. owned 0.08% of Vitesse Energy as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Vitesse Energy by 112.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company's stock worth $5,450,000 after buying an additional 119,861 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position 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 valued at $7,264,000 after buying an additional 110,830 shares in the last quarter. Barclays PLC grew its stake in shares of Vitesse Energy by 325.7% during the 3rd quarter. Barclays PLC now owns 39,528 shares of the company's stock valued at $950,000 after acquiring an additional 30,243 shares during the period. Ashford Capital Management Inc. purchased a new stake in Vitesse Energy in the 3rd quarter worth approximately $572,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Vitesse Energy during the 4th quarter worth approximately $443,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VTS has been the topic of a number of analyst reports. Roth Mkm lifted their target price on shares of Vitesse Energy from $30.50 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Northland Capmk raised Vitesse Energy to a "strong-buy" rating in a research note on Thursday, January 16th. Northland Securities lifted their target price on Vitesse Energy from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. Alliance Global Partners raised shares of 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 report on Tuesday, December 17th. Finally, Evercore ISI restated an "in-line" rating and set a $28.00 target price on shares of Vitesse Energy in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $30.25.

Vitesse Energy Price Performance

VTS traded up $0.65 during trading hours on Friday, hitting $20.39. The company's stock had a trading volume of 487,749 shares, compared to its average volume of 202,630. The stock has a market cap of $786.49 million, a price-to-earnings ratio of 13.96 and a beta of 0.56. The business's 50-day moving average price is $24.41 and its 200-day moving average price is $25.52. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. Vitesse Energy, Inc. has a 12 month low of $18.90 and a 12 month high of $28.41.

Vitesse Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 21st were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $2.25 annualized dividend and a dividend yield of 11.04%. This is an increase from Vitesse Energy's previous quarterly dividend of $0.53. Vitesse Energy's payout ratio is currently 351.56%.

Insider Activity at Vitesse Energy

In other Vitesse Energy news, CAO Mike Morella sold 8,143 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total value of $217,336.67. Following the transaction, the chief accounting officer now owns 81,615 shares of the company's stock, valued at $2,178,304.35. This represents a 9.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael Sabol sold 6,714 shares of the company'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 sale, the vice president now owns 63,411 shares of the company's stock, valued at approximately $1,693,073.70. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. 18.15% of the stock is currently owned by insiders.

Vitesse Energy 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.