Vitesse Energy (NYSE:VTS) Rating Increased to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Vitesse Energy (NYSE:VTS) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat.com reports. Alliance Global Partners currently has $29.00 price objective on the stock, up from their prior price objective of $26.00.

Vitesse Energy Stock Performance

Shares of NYSE:VTS opened at $26.15 on Tuesday. Vitesse Energy has a 12-month low of $19.63 and a 12-month high of $28.41. The company’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $25.26. The firm has a market cap of $772.32 million, a PE ratio of 17.91 and a beta of 0.35. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, December 16th. This represents a $2.10 dividend on an annualized basis and a yield of 8.03%. Vitesse Energy’s dividend payout ratio (DPR) is presently 143.84%.

Institutional Trading of Vitesse Energy

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Vitesse Energy by 267.2% in the second quarter. American Century Companies Inc. now owns 285,613 shares of the company’s stock worth $6,769,000 after purchasing an additional 207,831 shares during the period. Lee Danner & Bass Inc. bought a new position in Vitesse Energy in the 2nd quarter valued at about $3,430,000. Dimensional Fund Advisors LP raised its position in shares of Vitesse Energy by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 910,824 shares of the company’s stock valued at $21,587,000 after buying an additional 144,166 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Vitesse Energy by 112.0% in the 3rd 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 in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Vitesse Energy by 146.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 179,724 shares of the company’s stock worth $4,317,000 after acquiring an additional 106,927 shares during the period. 51.63% of the stock is currently owned by institutional investors.

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.