Alliance Global Partners Upgrades Vitesse Energy (NYSE:VTS) to "Buy"

Vitesse Energy (NYSE:VTS - Get Free Report) was upgraded by equities research analysts at Alliance Global Partners from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $29.00 price target on the stock, up from their prior price target of $26.00. Alliance Global Partners' target price suggests a potential upside of 10.92% from the stock's previous close.

Vitesse Energy Price Performance

Shares of VTS traded down $0.12 during trading hours on Tuesday, hitting $26.15. 480,913 shares of the stock were exchanged, compared to its average volume of 191,178. The stock's 50-day moving average price is $26.52 and its two-hundred day moving average price is $25.26. The company has a market cap of $772.32 million, a price-to-earnings ratio of 17.97 and a beta of 0.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 0.75. Vitesse Energy has a 12-month low of $19.63 and a 12-month high of $28.41.

Institutional Trading of Vitesse Energy

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in shares of Vitesse Energy in the second quarter worth $26,000. International Assets Investment Management LLC boosted its position in shares of Vitesse Energy by 2,301.8% in the third quarter. International Assets Investment Management LLC now owns 1,369 shares of the company's stock worth $33,000 after buying an additional 1,312 shares during the period. Quest Partners LLC purchased a new position in Vitesse Energy in the third quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new position in Vitesse Energy in the second quarter valued at about $36,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Vitesse Energy during the third quarter valued at approximately $78,000. 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.