Vitesse Energy, Inc. (NYSE:VTS) Sees Large Decrease in Short Interest

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,140,000 shares, a drop of 24.6% from the February 28th total of 2,840,000 shares. Based on an average daily trading volume, of 230,200 shares, the days-to-cover ratio is currently 9.3 days. Currently, 8.7% of the company's shares are short sold.

Insiders Place Their Bets

In other news, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.70, for a total transaction of $179,263.80. Following the completion of the transaction, the vice president now directly owns 63,411 shares in the company, valued at approximately $1,693,073.70. This trade represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mike Morella sold 8,143 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 81,615 shares in the company, valued at $2,178,304.35. This trade represents a 9.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.15% of the company's stock.

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Institutional Investors Weigh In On Vitesse Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inlet Private Wealth LLC boosted its holdings in Vitesse Energy by 0.7% in the 4th quarter. Inlet Private Wealth LLC now owns 59,651 shares of the company's stock worth $1,491,000 after buying an additional 400 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Vitesse Energy by 5.0% during the 4th 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Vitesse Energy by 3.6% during 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 increased its holdings in shares of Vitesse Energy by 1.6% in the fourth 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. boosted its position in shares of Vitesse Energy by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 241,761 shares of the company's stock valued at $5,807,000 after acquiring an additional 853 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Vitesse Energy Stock Performance

NYSE:VTS traded down $0.92 on Thursday, hitting $24.22. The stock had a trading volume of 172,000 shares, compared to its average volume of 233,474. The business's 50-day simple moving average is $25.35 and its two-hundred day simple moving average is $25.75. The stock has a market cap of $934.36 million, a price-to-earnings ratio of 16.59 and a beta of 0.53. Vitesse Energy has a 52-week low of $21.83 and a 52-week high of $28.41. 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 21st were given a $0.5625 dividend. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Vitesse Energy's previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 9.29%. Vitesse Energy's dividend payout ratio (DPR) is presently 351.56%.

Analysts Set New Price Targets

A number of research firms have recently commented on VTS. Alliance Global Partners upgraded shares of Vitesse Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $26.00 to $29.00 in a report on Tuesday, December 17th. Northland Securities lifted their target price on Vitesse Energy from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. Evercore ISI reaffirmed an "in-line" rating and set a $28.00 price target on shares of Vitesse Energy in a report on Wednesday, March 19th. Roth Mkm increased their price objective on Vitesse Energy from $30.50 to $33.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Northland Capmk raised Vitesse Energy to a "strong-buy" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $30.25.

About Vitesse Energy

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.