Vitesse Energy (NYSE:VTS) Hits New 52-Week Low - Here's What Happened

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as $18.90 and last traded at $21.35, with a volume of 772979 shares changing hands. The stock had previously closed at $19.69.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VTS shares. Alliance Global Partners upgraded shares of Vitesse Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $26.00 to $29.00 in a research report on Tuesday, December 17th. Roth Mkm raised their price objective on shares of Vitesse Energy from $30.50 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Evercore ISI reiterated an "in-line" rating and set a $28.00 target price on shares of Vitesse Energy in a research report on Wednesday, March 19th. Northland Capmk raised Vitesse Energy to a "strong-buy" rating in a report on Thursday, January 16th. Finally, Northland Securities lifted their price target on Vitesse Energy from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $30.25.

Vitesse Energy Stock Up 0.6 %

The firm's 50 day moving average is $24.27 and its 200-day moving average is $25.51. The firm has a market cap of $776.96 million, a PE ratio of 13.79 and a beta of 0.56. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 21st were paid a $0.5625 dividend. This is a positive change from Vitesse Energy's previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 11.17%. The ex-dividend date of this dividend was Friday, March 21st. Vitesse Energy's dividend payout ratio is presently 351.56%.

Institutional Trading of Vitesse Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. one8zero8 LLC purchased a new stake in Vitesse Energy in the fourth quarter valued at approximately $3,330,000. Dimensional Fund Advisors LP lifted its stake in shares of Vitesse Energy by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,161,250 shares of the company's stock valued at $29,031,000 after purchasing an additional 125,988 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Vitesse Energy by 61.7% in the fourth 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 during the period. Marshall Wace LLP lifted its position in Vitesse Energy by 877.8% during the fourth quarter. Marshall Wace LLP now owns 121,468 shares of the company's stock valued at $3,037,000 after buying an additional 109,046 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Vitesse Energy by 18.6% during the fourth quarter. American Century Companies Inc. now owns 614,078 shares of the company's stock worth $15,352,000 after buying an additional 96,463 shares during the period. Hedge funds and other institutional investors own 51.63% of the company's stock.

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.