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

Vitesse Energy (NYSE:VTS - Get Free Report) was downgraded by analysts at Alliance Global Partners from a "buy" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat reports. They currently have a $26.00 target price on the stock. Alliance Global Partners' price objective indicates a potential downside of 4.34% from the stock's current price.

Vitesse Energy Stock Performance

Vitesse Energy stock traded up $0.92 during mid-day trading on Wednesday, reaching $27.18. The company had a trading volume of 335,550 shares, compared to its average volume of 195,753. The company has a 50 day moving average of $24.94 and a 200-day moving average of $24.53. Vitesse Energy has a 52 week low of $19.63 and a 52 week high of $27.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market cap of $800.45 million, a price-to-earnings ratio of 18.62 and a beta of 0.22.

Vitesse Energy (NYSE:VTS - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The firm had revenue of $66.60 million for the quarter, compared to analyst estimates of $63.89 million. Vitesse Energy had a return on equity of 7.22% and a net margin of 18.05%.

Insiders Place Their Bets

In other Vitesse Energy news, CEO Robert W. Gerrity acquired 10,000 shares of the company's stock in a transaction dated Friday, September 13th. The stock was bought at an average price 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 in the company, valued at $12,249,041.03. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 15.80% of the company's stock.

Hedge Funds Weigh In On Vitesse Energy

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in Vitesse Energy by 267.2% in the second quarter. American Century Companies Inc. now owns 285,613 shares of the company's stock valued at $6,769,000 after buying an additional 207,831 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Vitesse Energy during the 2nd quarter worth approximately $3,430,000. Dimensional Fund Advisors LP increased its holdings in Vitesse Energy by 18.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company's stock valued at $21,587,000 after purchasing an additional 144,166 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in 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 last quarter. Finally, Cove Street Capital LLC boosted its stake in Vitesse Energy by 26.3% in the first quarter. Cove Street Capital LLC now owns 351,365 shares of the company's stock worth $8,338,000 after purchasing an additional 73,102 shares in the last quarter. 51.63% of the stock is 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.