Vitesse Energy (NYSE:VTS) Hits New 52-Week Low - Should You Sell?

Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $21.75 and last traded at $21.86, with a volume of 392439 shares traded. The stock had previously closed at $23.96.

Wall Street Analyst Weigh In

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

Vitesse Energy Stock Performance

The company has a market cap of $823.64 million, a P/E ratio of 14.62 and a beta of 0.56. The stock has a fifty day moving average price of $24.84 and a two-hundred day moving average price of $25.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.75 and a quick ratio of 0.75.

Vitesse Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 21st were issued a $0.5625 dividend. The ex-dividend date was Friday, March 21st. This represents a $2.25 annualized dividend and a yield of 10.54%. This is an increase from Vitesse Energy's previous quarterly dividend of $0.53. Vitesse Energy's dividend payout ratio is presently 351.56%.

Insider Activity at Vitesse Energy

In related news, CAO Mike Morella sold 8,143 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $26.69, for a total transaction of $217,336.67. Following the completion of the sale, the chief accounting officer now directly owns 81,615 shares of the company's stock, valued at $2,178,304.35. This represents a 9.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Sabol sold 6,714 shares of Vitesse Energy stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 owns 63,411 shares in the company, valued at approximately $1,693,073.70. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.15% of the company's stock.

Hedge Funds Weigh In On Vitesse Energy

A number of institutional investors have recently bought and sold shares of VTS. Harbor Capital Advisors Inc. boosted its stake in Vitesse Energy by 61.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 290,554 shares of the company's stock worth $7,264,000 after purchasing an additional 110,830 shares during the period. Barclays PLC boosted its position in shares of Vitesse Energy by 325.7% in the third quarter. Barclays PLC now owns 39,528 shares of the company's stock worth $950,000 after buying an additional 30,243 shares during the period. Geode Capital Management LLC grew its holdings in shares of Vitesse Energy by 1.7% during the third quarter. Geode Capital Management LLC now owns 582,234 shares of the company's stock valued at $13,988,000 after buying an additional 9,724 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Vitesse Energy by 112.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 226,909 shares of the company's stock valued at $5,450,000 after buying an additional 119,861 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Vitesse Energy by 65.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,481 shares of the company's stock worth $437,000 after acquiring an additional 6,916 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company's stock.

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.