Vitesse Energy (NYSE:VTS) Sees Large Volume Increase - Here's What Happened

Shares of Vitesse Energy, Inc. (NYSE:VTS - Get Free Report) saw an uptick in trading volume on Monday . 155,023 shares changed hands during trading, a decline of 15% from the previous session's volume of 183,235 shares.The stock last traded at $23.99 and had previously closed at $22.89.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VTS shares. Alliance Global Partners raised shares of Vitesse Energy from a "neutral" rating to a "buy" rating and boosted their price target for the company from $26.00 to $29.00 in a research report on Tuesday, December 17th. Evercore ISI reiterated an "in-line" rating and issued a $28.00 price objective on shares of Vitesse Energy in a research note on Wednesday, March 19th. Northland Capmk upgraded Vitesse Energy to a "strong-buy" rating in a research 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 report on Thursday, January 16th.

Vitesse Energy Stock Down 0.6 %

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $947.86 million, a P/E ratio of 16.83 and a beta of 0.53. The stock's fifty day moving average is $25.53 and its two-hundred day moving average is $25.73.

Vitesse Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be issued a $0.5625 dividend. The ex-dividend date is Friday, March 21st. This represents a $2.25 annualized dividend and a dividend yield of 9.16%. This is a boost from Vitesse Energy's previous quarterly dividend of $0.53. Vitesse Energy's dividend payout ratio is presently 351.56%.

Insider Buying and Selling

In other Vitesse Energy 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 sale, the vice president now directly owns 63,411 shares in the company, valued at $1,693,073.70. The trade was a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mike Morella sold 8,143 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $26.69, for a total transaction of $217,336.67. Following the completion of the transaction, the chief accounting officer now directly owns 81,615 shares in the company, valued at $2,178,304.35. The trade was a 9.07 % decrease in their position. The disclosure for this sale can be found here. 18.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vitesse Energy

Several hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Vitesse Energy in the 4th quarter worth approximately $29,000. Quest Partners LLC bought a new stake in shares of Vitesse Energy in the 3rd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vitesse Energy in the 3rd quarter valued at $78,000. R Squared Ltd bought a new position in shares of Vitesse Energy during the 4th quarter valued at $79,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Vitesse Energy in the 4th quarter worth $104,000. 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.